Document And Entity Information
Document And Entity Information - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Feb. 23, 2016 | Jun. 30, 2015 | |
Document and Entity Information [Abstract] | |||
Entity Registrant Name | MERCANTILE BANK CORPORATION | ||
Trading Symbol | mbwm | ||
Document Type | 10-K | ||
Current Fiscal Year End Date | --12-31 | ||
Entity Common Stock, Shares Outstanding | 16,232,483 | ||
Entity Public Float | $ 339,000,000 | ||
Amendment Flag | false | ||
Entity Central Index Key | 1,042,729 | ||
Entity Current Reporting Status | Yes | ||
Entity Voluntary Filers | No | ||
Entity Filer Category | Accelerated Filer | ||
Entity Well-known Seasoned Issuer | No | ||
Document Period End Date | Dec. 31, 2015 | ||
Document Fiscal Year Focus | 2,015 | ||
Document Fiscal Period Focus | FY |
Consolidated Balance Sheets
Consolidated Balance Sheets - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 | |
ASSETS | |||
Cash and due from banks | $ 42,829,000 | $ 43,754,000 | |
Interest-bearing deposits | 46,463,000 | 117,777,000 | |
Federal funds sold | 599,000 | 11,207,000 | |
Total cash and cash equivalents | 89,891,000 | 172,738,000 | |
Securities available for sale | 346,992,000 | 432,912,000 | |
Federal Home Loan Bank stock | [1] | 7,567,000 | 13,699,000 |
Loans | 2,277,727,000 | 2,089,277,000 | |
Allowance for loan losses | (15,681,000) | (20,041,000) | |
Loans, net | 2,262,046,000 | 2,069,236,000 | |
Premises and equipment, net | 46,862,000 | 48,812,000 | |
Bank owned life insurance | 58,971,000 | 57,861,000 | |
Goodwill | 49,473,000 | 49,473,000 | |
Core deposit intangible | 12,631,000 | 15,624,000 | |
Other assets | 29,123,000 | 33,024,000 | |
Total assets | 2,903,556,000 | 2,893,379,000 | |
Deposits | |||
Noninterest-bearing | 674,568,000 | 558,738,000 | |
Interest-bearing | 1,600,814,000 | 1,718,177,000 | |
Total deposits | 2,275,382,000 | 2,276,915,000 | |
Securities sold under agreements to repurchase | 154,771,000 | 167,569,000 | |
Federal Home Loan Bank advances | 68,000,000 | 54,022,000 | |
Subordinated debentures | 55,154,000 | 54,472,000 | |
Accrued interest and other liabilities | 16,445,000 | 12,263,000 | |
Total liabilities | 2,569,752,000 | 2,565,241,000 | |
Shareholders' equity | |||
Preferred stock, no par value; 1,000,000 shares authorized; 0 shares outstanding at December 31, 2015 and December 31, 2014 | 0 | 0 | |
Common stock, no par value; 40,000,000 shares authorized; 16,358,711 shares outstanding at December 31, 2015 and 16,976,839 shares outstanding at December 31, 2014 | 304,819,000 | 317,904,000 | |
Retained earnings (deficit) | 27,722,000 | 10,218,000 | |
Accumulated other comprehensive income (loss) | 1,263,000 | 16,000 | |
Total shareholders’ equity | 333,804,000 | 328,138,000 | |
Total liabilities and shareholders’ equity | $ 2,903,556,000 | $ 2,893,379,000 | |
[1] | It is not practical to determine the fair value of FHLBI stock due to transferability restrictions. |
Consolidated Balance Sheets (Pa
Consolidated Balance Sheets (Parentheticals) - $ / shares | Dec. 31, 2015 | Dec. 31, 2014 |
Preferred stock, par value (in Dollars per share) | $ 0 | $ 0 |
Preferred stock, shares authorized | 1,000,000 | 1,000,000 |
Preferred stock, Outstanding | 0 | 0 |
Common stock, par value (in Dollars per share) | $ 0 | $ 0 |
Common stock, shares authorized | 40,000,000 | 40,000,000 |
Common stock, shares outstanding | 16,358,711 | 16,976,839 |
Consolidated Statements of Inco
Consolidated Statements of Income - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Interest income | |||
Loans, including fees | $ 104,106,000 | $ 80,824,000 | $ 52,924,000 |
Securities, taxable | 5,918,000 | 6,417,000 | 4,134,000 |
Securities, tax-exempt | 2,089,000 | 1,643,000 | 951,000 |
Other interest-bearing assets | 215,000 | 234,000 | 233,000 |
Total interest income | 112,328,000 | 89,118,000 | 58,242,000 |
Interest expense | |||
Deposits | 7,590,000 | 8,378,000 | 8,912,000 |
Short-term borrowings | 157,000 | 122,000 | 80,000 |
Federal Home Loan Bank advances | 765,000 | 636,000 | 533,000 |
Subordinated debentures and other borrowings | 2,642,000 | 2,204,000 | 1,261,000 |
Total interest expense | 11,154,000 | 11,340,000 | 10,786,000 |
Net interest income | 101,174,000 | 77,778,000 | 47,456,000 |
Provision for loan losses | (1,000,000) | (3,000,000) | (7,200,000) |
Net interest income after provision for loan losses | 102,174,000 | 80,778,000 | 54,656,000 |
Noninterest income | |||
Service charges on deposit and sweep accounts | 3,308,000 | 2,586,000 | 1,532,000 |
Credit and debit card fees | 4,329,000 | 2,494,000 | 1,063,000 |
Mortgage banking activities | 3,619,000 | 1,672,000 | 800,000 |
Earnings on bank owned life insurance | 1,113,000 | 1,184,000 | 1,329,000 |
Payroll processing | 969,000 | 782,000 | 660,000 |
Letter of credit fees | 457,000 | 335,000 | 370,000 |
Rental income from other real estate owned | 21,000 | 109,000 | 528,000 |
Other income | 2,222,000 | 866,000 | 590,000 |
Total noninterest income | 16,038,000 | 10,028,000 | 6,872,000 |
Noninterest expense | |||
Salaries and benefits | 42,594,000 | 33,703,000 | 20,298,000 |
Occupancy | 5,976,000 | 4,637,000 | 2,547,000 |
Furniture and equipment rent, depreciation and maintenance | 2,332,000 | 1,738,000 | 984,000 |
Data processing | 7,696,000 | 5,869,000 | 3,440,000 |
FDIC insurance costs | 1,717,000 | 1,182,000 | 793,000 |
Advertising | 1,363,000 | 1,315,000 | 1,113,000 |
Problem asset costs | 1,212,000 | 585,000 | 595,000 |
Efficiency program-related costs | 765,000 | 0 | 0 |
Merger-related costs | 0 | 5,447,000 | 1,246,000 |
Other expense | 15,726,000 | 11,134,000 | 5,387,000 |
Total noninterest expenses | 79,381,000 | 65,610,000 | 36,403,000 |
Income before federal income tax expense | 38,831,000 | 25,196,000 | 25,125,000 |
Federal income tax expense | 11,811,000 | 7,865,000 | 8,092,000 |
Net income | $ 27,020,000 | $ 17,331,000 | $ 17,033,000 |
Earnings per common share: | |||
Basic (in Dollars per share) | $ 1.63 | $ 1.28 | $ 1.96 |
Diluted (in Dollars per share) | $ 1.62 | $ 1.28 | $ 1.95 |
Consolidated Statements of Comp
Consolidated Statements of Comprehensive Income - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Net income | $ 27,020,000 | $ 17,331,000 | $ 17,033,000 |
Other comprehensive income (loss): | |||
Unrealized holding gains (losses) on securities available for sale | 1,874,000 | 8,596,000 | (11,960,000) |
Fair value of interest rate swap | 0 | 11,000 | 849,000 |
1,874,000 | 8,607,000 | (11,111,000) | |
Tax effect of unrealized holding gains (losses) on securities available for sale | (627,000) | (3,014,000) | 4,186,000 |
Tax effect of fair value of interest rate swap | 0 | (4,000) | (298,000) |
(627,000) | (3,018,000) | 3,888,000 | |
Other comprehensive income (loss), net of tax effect | 1,247,000 | 5,589,000 | (7,223,000) |
Comprehensive income | $ 28,267,000 | $ 22,920,000 | $ 9,810,000 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Shareholders' Equity - USD ($) | Preferred Stock [Member] | Common Stock [Member] | Retained Earnings [Member] | AOCI Attributable to Parent [Member] | Total |
Balances, at Dec. 31, 2012 | $ 0 | $ 166,074,000 | $ (21,134,000) | $ 1,650,000 | $ 146,590,000 |
Balances, at Dec. 31, 2013 | 0 | 162,999,000 | (4,101,000) | (5,573,000) | 153,325,000 |
Employee stock purchase plan | 19,000 | 19,000 | |||
Dividend reinvestment plan | 33,000 | 33,000 | |||
Stock option exercises | 700,000 | 700,000 | |||
Stock tendered for stock option exercises (18,950 shares) | (411,000) | (411,000) | |||
Stock-based compensation expense | 473,000 | 473,000 | |||
Cash dividends | (3,889,000) | (3,889,000) | |||
Net income | 17,033,000 | 17,033,000 | |||
Change in net unrealized gain on securities available for sale, net of tax effect | (7,774,000) | (7,774,000) | |||
Change in fair value of interest rate swap, net of tax effect | 551,000 | 551,000 | |||
Balances, at Dec. 31, 2014 | 0 | 317,904,000 | 10,218,000 | 16,000 | 328,138,000 |
Common stock issued in connection with Firstbank merger (8,087,272 shares) | 173,310,000 | 173,310,000 | |||
Issuance of stock options to replace existing Firstbank options at merger date | 1,664,000 | 1,664,000 | |||
Employee stock purchase plan | 23,000 | 23,000 | |||
Dividend reinvestment plan | 209,000 | 209,000 | |||
Stock option exercises | 282,000 | 282,000 | |||
Stock grants to directors for retainer fees | 155,000 | 155,000 | |||
Stock-based compensation expense | 714,000 | 714,000 | |||
Cash dividends | (21,452,000) | (3,012,000) | (24,464,000) | ||
Net income | 17,331,000 | 17,331,000 | |||
Change in net unrealized gain on securities available for sale, net of tax effect | 5,582,000 | 5,582,000 | |||
Change in fair value of interest rate swap, net of tax effect | 7,000 | 7,000 | |||
Balances, at Dec. 31, 2015 | $ 0 | 304,819,000 | 27,722,000 | 1,263,000 | 333,804,000 |
Employee stock purchase plan | 44,000 | 44,000 | |||
Dividend reinvestment plan | 655,000 | 655,000 | |||
Stock option exercises | 891,000 | 891,000 | |||
Stock grants to directors for retainer fees | 403,000 | 403,000 | |||
Stock-based compensation expense | 684,000 | 684,000 | |||
Share repurchase program (788,541 shares) | $ (15,762,000) | (15,762,000) | |||
Cash dividends | (9,516,000) | (9,516,000) | |||
Net income | $ 27,020,000 | 27,020,000 | |||
Change in net unrealized gain on securities available for sale, net of tax effect | 1,247,000 | 1,247,000 | |||
Change in fair value of interest rate swap, net of tax effect | $ 0 | $ 0 |
Consolidated Statements of Cha7
Consolidated Statements of Changes in Shareholders' Equity (Parentheticals) - $ / shares | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Employee stock purchase plan, shares | 2,058 | 1,150 | |
Common Stock [Member] | |||
Employee stock purchase plan, shares | 2,058 | 1,150 | 1,098 |
Dividend reinvestment plan, shares | 30,467 | 10,359 | 1,954 |
Stock option exercises, shares | 59,117 | 30,585 | 51,055 |
Stock tendered for stock option exercises, shares | 18,950 | ||
Cash dividends per common share (in Dollars per share) | $ 0.58 | $ 2.48 | $ 0.45 |
Common stock issued in connection with Firstbank merger | 8,087,272 | ||
Stock grants to directors for retainer fees | 20,094 | 7,375 | |
Share repurchase program | 788,541 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Cash flows from operating activities | |||
Net income | $ 27,020,000 | $ 17,331,000 | $ 17,033,000 |
Adjustments to reconcile net income to net cash from operating activities: | |||
Depreciation and amortization | 11,654,000 | 7,613,000 | 2,208,000 |
Accretion of acquired loans | (5,338,000) | (3,194,000) | 0 |
Provision for loan losses | (1,000,000) | (3,000,000) | (7,200,000) |
Deferred income tax expense | 4,412,000 | 4,506,000 | 8,092,000 |
Stock-based compensation expense | 684,000 | 714,000 | 473,000 |
Stock grants to directors for retainer fee | 403,000 | 155,000 | 0 |
Proceeds from sales of mortgage loans held for sale | 120,880,000 | 67,422,000 | 51,373,000 |
Origination of mortgage loans held for sale | (116,997,000) | (65,392,000) | (48,321,000) |
Net gain on sales of mortgage loans held for sale | (3,626,000) | (1,625,000) | (658,000) |
Net gain on sale and valuation write-downs of foreclosed assets | (62,000) | (894,000) | (1,585,000) |
Net loss from sales of premises and equipment | 55,000 | 25,000 | 0 |
Net gain from sales of available for sale securities | (17,000) | 0 | 0 |
Earnings on bank owned life insurance | (1,113,000) | (1,184,000) | (1,329,000) |
Net change in: | |||
Accrued interest receivable | (321,000) | (11,000) | 225,000 |
Other assets | (4,815,000) | 1,795,000 | 8,465,000 |
Accrued interest and other liabilities | 4,185,000 | (9,822,000) | (94,000) |
Net cash from operating activities | 36,004,000 | 14,439,000 | 28,682,000 |
Cash flows from investing activities | |||
Cash received in merger | 0 | 91,806,000 | 0 |
Purchases of securities available for sale | (10,645,000) | (19,874,000) | (49,812,000) |
Proceeds from maturities, calls and repayments of securities available for sale | 93,873,000 | 75,880,000 | 34,809,000 |
Proceeds from sales of securities available for sale | 1,483,000 | 0 | 10,310,000 |
Proceeds from Federal Home Loan Bank stock redemption | 6,132,000 | 5,527,000 | 0 |
Loan originations and payments, net | (188,932,000) | (90,853,000) | (15,298,000) |
Purchases of premises and equipment, net | (1,081,000) | (2,175,000) | (326,000) |
Proceeds from sale of foreclosed assets | 2,967,000 | 4,427,000 | 7,898,000 |
Net cash from (for) investing activities | (96,203,000) | 64,738,000 | (12,419,000) |
Cash flows from financing activities | |||
Net decrease in time deposits | (147,106,000) | (58,927,000) | (23,038,000) |
Net increase (decrease) in all other deposits | 146,944,000 | (11,307,000) | 6,745,000 |
Net increase (decrease) in securities sold under agreements to repurchase | (12,798,000) | 43,780,000 | 4,540,000 |
Proceeds from Federal Home Loan Bank advances | 20,000,000 | 0 | 10,000,000 |
Maturities and prepayments of Federal Home Loan Bank advances | (6,000,000) | (3,000,000) | 0 |
Proceeds from stock option exercises, net of cashless exercises | 891,000 | 282,000 | 289,000 |
Employee stock purchase plan | 44,000 | 23,000 | 19,000 |
Dividend reinvestment plan | 655,000 | 209,000 | 33,000 |
Repurchase of common stock | (15,762,000) | 0 | 0 |
Payment of cash dividends to common shareholders | (9,516,000) | (24,464,000) | (3,889,000) |
Net cash for financing activities | (22,648,000) | (53,404,000) | (5,301,000) |
Net change in cash and cash equivalents | (82,847,000) | 25,773,000 | 10,962,000 |
Cash and cash equivalents at beginning of period | 172,738,000 | 146,965,000 | 136,003,000 |
Cash and cash equivalents at end of period | 89,891,000 | 172,738,000 | 146,965,000 |
Cash paid during the year for: | |||
Interest | 11,618,000 | 11,439,000 | 11,059,000 |
Federal income taxes | 8,000,000 | 2,625,000 | 0 |
Noncash financing and investing activities: | |||
Transfers from loans to foreclosed assets | 2,203,000 | 1,490,000 | 2,194,000 |
Common stock issued in connection with the Firstbank merger | $ 0 | $ 173,310,000 | $ 0 |
Note 1 - Summary of Significant
Note 1 - Summary of Significant Accounting Policies | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Significant Accounting Policies [Text Block] | NOTE 1 - SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation We have five separate business trusts: Mercantile Bank Capital Trust I, Firstbank Capital Trust I, Firstbank Capital Trust II, Firstbank Capital Trust III and Firstbank Capital Trust IV (“our trusts”). Our trusts were formed to issue trust preferred securities. We issued subordinated debentures to our trusts in return for the proceeds raised from the issuance of the trust preferred securities. Our trusts are not consolidated, but instead we report the subordinated debentures issued to the trusts as liabilities. Nature of Operations The Bank is a community-based financial institution. The Bank’s primary deposit products are checking, savings, and term certificate accounts, and its primary lending products are commercial loans, residential mortgage loans, and instalment loans. Substantially all loans are secured by specific items of collateral including business assets, real estate or consumer assets. Commercial loans are expected to be repaid from cash flow from operations of businesses. Real estate loans are secured by commercial or residential real estate. The Bank’s loan accounts and retail deposits are primarily with customers located in the communities in which we have bank office locations. As an alternative source of funds, the Bank has also issued certificates of deposit to depositors outside of its primary market areas. Substantially all revenues are derived from banking products and services and investment securities. While we monitor the revenue streams of the various products and services offered, we manage our business on the basis of one operating segment, banking. Mercantile Insurance was formed during 2002 through the acquisition of an existing shelf insurance agency. Insurance products are offered through an Agency and Institutions Agreement among Mercantile Insurance, the Bank and Hub International. The insurance products are marketed through a central facility operated by the Michigan Bankers Insurance Association, members of which include the insurance subsidiaries of various Michigan-based financial institutions and Hub International. Mercantile Insurance receives commissions based upon written premiums produced under the Agency and Institutions Agreement. Mercantile Real Estate was organized on July 21, 2003, principally to develop, construct, and own a facility in downtown Grand Rapids that serves as our Bank’s main office and Mercantile’s headquarters. This facility was placed into service during the second quarter of 2005. Use of Estimates Cash Flow Reporting Securities Interest income includes amortization of purchase premiums and accretion of discounts. Premiums and discounts on securities are amortized or accreted on the level-yield method without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. Declines in the fair value of debt securities below their amortized cost that are other than temporary (“OTTI”) are reflected in earnings or other comprehensive income, as appropriate. For those debt securities whose fair value is less than their amortized cost, we consider our intent to sell the security, whether it is more likely than not that we will be required to sell the security before recovery and whether we expect to recover the entire amortized cost of the security based on our assessment of the issuer’s financial condition. In analyzing an issuer’s financial condition, we consider whether the securities are issued by the federal government or its agencies, and whether downgrades by bond rating agencies have occurred. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) OTTI related to credit loss, which must be recognized in the income statement, and 2) OTTI related to other factors, such as liquidity conditions in the market or changes in market interest rates, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost. Loans Interest income on commercial loans and mortgage loans is discontinued at the time the loan is 90 days delinquent unless the loan is well-secured and in process of collection. Consumer and credit card loans are typically charged off no later than when they are 120 days past due. Past due status is based on the contractual terms of the loan. In all cases, loans are placed on nonaccrual or charged off at an earlier date if collection of principal and interest is considered doubtful. All interest accrued but not received for loans placed on nonaccrual is reversed against interest income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. Loans Held for Sale Year-end mortgage loans held for sale, included in total loans in the balance sheet, were as follows: 2015 2014 Mortgage loans held for sale $ 1,316,000 $ 1,574,000 Less: Allowance to adjust to lower of cost or market 0 0 Mortgage loans held for sale, net $ 1,316,000 $ 1,574,000 Mortgage Loan Derivatives Mortgage Banking Activities Servicing fee income is recorded for fees earned for servicing mortgage loans. The fees are based on a contractual percentage of the outstanding principal or a fixed amount per loan and are recorded as income when earned. Amortization of mortgage loan servicing rights is netted against mortgage loan servicing income and recorded in mortgage banking activities in the income statement. Troubled Debt Restructurings Loans modified as troubled debt restructurings are, by definition, considered to be impaired loans. Impairment for these loans is measured on a loan-by-loan basis similar to other impaired loans as described below under “Allowance for Loan Losses.” Certain loans modified as troubled debt restructurings may have been previously measured for impairment under a general allowance methodology (i.e., pooling), thus at the time the loan is modified as a troubled debt restructuring the allowance will be impacted by the difference between the results of these two measurement methodologies. Loans modified as troubled debt restructurings that subsequently default are factored into the determination of the allowance for loan losses in the same manner as other defaulted loans. Allowance for Loan Losses A loan is considered impaired when, based on current information and events, it is probable we will be unable to collect the scheduled payments of principal and interest when due according to the contractual terms of the loan agreement. Factors considered in determining impairment include payment status and collateral value. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. We determine the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of delay, the reasons for delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis for commercial and construction loans by the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price or the fair value of collateral if the loan is collateral dependent. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. Transfers of Financial Assets Premises and Equipment Long-lived Assets Foreclosed Assets: Bank Owned Life Insurance: Goodwill and Core Deposit Intangible The core deposit intangible that arose from the merger with Firstbank was initially measured at fair value and is being amortized into noninterest expense over a ten-year period using the sum-of-the-years-digits methodology. Repurchase Agreements Financial Instruments and Loan Commitments Stock-Based Compensation: Advertising Costs Income Taxes Fair Values of Financial Instruments Earnings Per Share Comprehensive Income Derivatives Changes in the fair value of derivatives that are designated, for accounting purposes, as a hedge of the variability of cash flows to be received on various assets and liabilities and are effective are reported in other comprehensive income. They are later reclassified into earnings in the same periods during which the hedged transaction affects earnings and are included in the line item in which the hedged cash flows are recorded. If hedge accounting does not apply, changes in the fair value of derivatives are recognized immediately in current earnings as interest income or expense. If designated as a hedge, we formally document the relationship between the derivative instrument and the hedged item, as well as the risk-management objective and the strategy for undertaking the hedge transaction. This documentation includes linking cash flow hedges to specific assets on the balance sheet. If designated as a hedge, we also formally assess, both at the hedge’s inception and on an ongoing basis, whether the derivative instrument that is used is highly effective in offsetting changes in cash flows of the hedged items. Ineffective hedge gains and losses are recognized immediately in current earnings as noninterest income or expense. We discontinue hedge accounting when we determine the derivative is no longer effective in offsetting changes in the cash flows of the hedged item, the derivative is settled or terminates, or treatment of the derivatives as a hedge is no longer appropriate or intended. Contingencies: Reclassifications Accounting Standards Updates Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers , with three transition methods available – full retrospective, retrospective and cumulative effect approach. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers – Deferral of Effective In June 2014, the FASB issued ASU 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures In August 2014, the FASB issued ASU 2014-14, Classification of Certain Government-Guaranteed Mortgage Loans Upon Foreclosure In January 2016, the FASB issued ASU 2016-1, Recognition and Measurement of Financial Assets and Financial Liabilities |
Note 2 - Business Combination
Note 2 - Business Combination | 12 Months Ended |
Dec. 31, 2015 | |
Business Combinations [Abstract] | |
Business Combination Disclosure [Text Block] | NOTE 2 – BUSINESS COMBINATION We completed the merger of Firstbank Corporation (“Firstbank”), a Michigan corporation with approximately $1.5 billion in total assets and 46 branch locations, into Mercantile Bank Corporation as of June 1, 2014 (“Merger Date”). Each share of Firstbank’s common stock was converted into the right to receive one share of Mercantile common stock, resulting in Mercantile issuing 8,087,272 shares of its common stock. The merger provided an expanded geographic footprint for the Company and increased the size of the balance sheet. The Firstbank transaction was accounted for using the acquisition method of accounting and accordingly, assets acquired, liabilities assumed and consideration exchanged were recorded at estimated fair value on the Merger Date. Goodwill of $49.5 million was calculated as the purchase premium after adjusting for the fair value of net assets acquired and represents the value expected from the synergies created from combining the two banking organizations as well as the economies of scale expected from combining the operations of the two companies. None of the goodwill is deductible for income tax purposes as the merger is accounted for as a tax-free exchange. The following table provides the purchase price calculation as of the Merger Date and the identifiable assets purchased and the liabilities assumed at their estimated fair values. Purchase Price: Mercantile common shares issued for Firstbank common shares 8,087,272 Price per share, based on Mercantile closing price on May 30, 2014 $ 21.43 Value of common stock issued 173,310,000 Value of replacement stock options granted 1,664,000 Total purchase price $ 174,974,000 Statement of Net Assets Acquired at Fair Value: Assets Cash and cash equivalents $ 91,806,000 Securities 358,599,000 Total loans 943,662,000 Premises and equipment 24,049,000 Core deposit intangible 17,478,000 Mortgage servicing rights 7,389,000 Other assets 9,897,000 Total Assets $ 1,452,880,000 Liabilities Deposits $ 1,229,609,000 Borrowings 87,615,000 Other liabilities 10,155,000 Total Liabilities $ 1,327,379,000 Net Identifiable Assets Acquired $ 125,501,000 Goodwill $ 49,473,000 Firstbank’s results of operations prior to the Merger Date are not included in our Consolidated Statements of Income or Consolidated Statements of Comprehensive Income. We recorded merger-related expenses of $5.4 million and $1.2 million during 2014 and 2013, respectively. Such expenses were generally for professional services, costs related to termination of existing contractual arrangements for various services, retention and severance compensation costs, marketing and promotional expenses, travel costs, and printing and supplies costs. The following table provides the unaudited pro forma information for the results of operations for the twelve month period ended December 31, 2014, as if the acquisition had occurred on January 1, 2013. These adjustments reflect the impact of certain purchase accounting fair value measurements primarily related to Firstbank’s loan and deposit portfolios. We expect to achieve further operating cost savings and other business synergies as a result of the merger which are not reflected in the pro forma amounts. These unaudited pro forma results are presented for illustrative purposes only and are not intended to represent or be indicative of the actual results of operations of the combined banking organization that would have been achieved had the merger occurred at the beginning of each period presented, nor are they intended to represent or be indicative of future results of operations. 2014 Net interest income $ 98,607,000 Noninterest expense 81,295,000 Net income 22,659,000 Net income per diluted share 1.33 In most instances, determining the fair value of the acquired assets and assumed liabilities required us to estimate cash flows expected to result from those assets and liabilities and to discount those cash flows at appropriate rates of interest. The most significant of those determinations relates to the valuation of acquired loans. For such loans, the excess of cash flows expected at acquisition over the estimated fair value is recognized as interest income over the remaining lives of the loans. The difference between contractually required payments at acquisition and the cash flows expected to be collected at acquisition reflects the impact of estimated credit losses and other factors, such as prepayments. In accordance with the applicable accounting guidance for business combinations, there was no carry-over of Firstbank’s previously established allowance for loan losses. The acquired loans were divided into loans with evidence of credit quality deterioration, which are accounted for under ASC 310-30 (“acquired impaired”), and loans that do not meet this criteria, which are accounted for under ASC 310-20 (“acquired non-impaired”). In addition, the loans are further categorized into different loan pools based primarily on the type and purpose of the loan. The final fair value of loans at the Merger Date is presented in the following table: Acquired Impaired Acquired Non-Impaired Acquired Total Loans Commercial Loans: Commercial & industrial $ 878,000 $ 163,316,000 $ 164,194,000 Commercial real estate 12,973,000 378,016,000 390,989,000 Construction & development 1,289,000 33,726,000 35,015,000 Total Commercial Loans $ 15,140,000 $ 575,058,000 $ 590,198,000 Consumer Loans: Residential mortgages $ 9,694,000 $ 216,653,000 $ 226,347,000 Instalment 167,000 61,657,000 61,824,000 Home equity lines 288,000 52,054,000 52,342,000 Construction 76,000 12,875,000 12,951,000 Total Consumer Loans $ 10,225,000 $ 343,239,000 $ 353,464,000 Total Loans $ 25,365,000 $ 918,297,000 $ 943,662,000 The following table presents data on acquired impaired loans at the Merger Date: Acquired Impaired Contractually required payments $ 44,936,000 Nonaccretable difference 17,057,000 Expected cash flows 27,879,000 Accretable yield 2,514,000 Carrying balance $ 25,365,000 The nonaccretable difference includes $10.4 million in principal cash flows not expected to be collected, $2.8 million of pre-acquisition charge-offs and $3.9 million of future interest not expected to be collected. The unpaid principal balance of acquired performing loans was $926.4 million at the Merger Date, and the unaccreted discount on such loans was $8.1 million. |
Note 3 - Securities
Note 3 - Securities | 12 Months Ended |
Dec. 31, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Investments in Debt and Marketable Equity Securities (and Certain Trading Assets) Disclosure [Text Block] | NOTE 3 – SECURITIES The amortized cost and fair value of available for sale securities and the related gross unrealized gains and losses recognized in accumulated other comprehensive income (loss) were as follows: Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value 2015 U.S. Government agency debt obligations $ 146,660,000 $ 1,932,000 $ (1,552,000 ) $ 147,040,000 Mortgage-backed securities 66,670,000 708,000 (304,000 ) 67,074,000 Municipal general obligation bonds 120,679,000 1,549,000 (205,000 ) 122,023,000 Municipal revenue bonds 8,841,000 76,000 (3,000 ) 8,914,000 Other investments 1,946,000 0 (5,000 ) 1,941,000 $ 344,796,000 $ 4,265,000 $ (2,069,000 ) $ 346,992,000 2014 U.S. Government agency debt obligations $ 194,894,000 $ 1,612,000 $ (3,038,000 ) $ 193,468,000 Mortgage-backed securities 92,656,000 1,123,000 (218,000 ) 93,561,000 Municipal general obligation bonds 132,347,000 1,042,000 (307,000 ) 133,082,000 Municipal revenue bonds 10,769,000 117,000 (13,000 ) 10,873,000 Other investments 1,925,000 3,000 0 1,928,000 $ 432,591,000 $ 3,897,000 $ (3,576,000 ) $ 432,912,000 Securities with unrealized losses at year-end 2015 and 2014, aggregated by investment category and length of time that individual securities have been in a continuous loss position, are as follows: Less than 12 Months 12 Months or More Total Description of Securities Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss 2015 U.S. Government agency debt obligations $ 0 $ 0 $ 76,496,000 $ 1,552,000 $ 76,496,000 $ 1,552,000 Mortgage-backed securities 18,025,000 69,000 34,660,000 235,000 52,685,000 304,000 Municipal general obligation bonds 1,981,000 4,000 30,134,000 201,000 32,115,000 205,000 Municipal revenue bonds 0 0 1,134,000 3,000 1,134,000 3,000 Other investments 1,446,000 5,000 0 0 1,446,000 5,000 $ 21,452,000 $ 78,000 $ 142,424,000 $ 1,991,000 $ 163,876,000 $ 2,069,000 2014 U.S. Government agency debt obligations $ 81,891,000 $ 202,000 $ 74,120,000 $ 2,836,000 $ 156,011,000 $ 3,038,000 Mortgage-backed securities 49,940,000 218,000 0 0 49,940,000 218,000 Municipal general obligation bonds 54,104,000 307,000 0 0 54,104,000 307,000 Municipal revenue bonds 4,644,000 13,000 0 0 4,644,000 13,000 Other investments 0 0 0 0 0 0 $ 190,579,000 $ 740,000 $ 74,120,000 $ 2,836,000 $ 264,699,000 $ 3,576,000 We evaluate securities for other-than-temporary impairment at least on a quarterly basis. Consideration is given to the length of time and the extent to which the fair value has been less than cost, the financial condition and near-term prospects of the issuer, and the intent and ability we have to retain our investment in the issuer for a period of time sufficient to allow for any anticipated recovery in fair value. For those debt securities whose fair value is less than their amortized cost basis, we also consider our intent to sell the security, whether it is more likely than not that we will be required to sell the security before recovery and if we do not expect to recover the entire amortized cost basis of the security. In analyzing an issuer’s financial condition, we may consider whether the securities are issued by the federal government or its agencies, whether downgrades by bond rating agencies have occurred and the results of reviews of the issuer’s financial condition. At December 31, 2015, 250 debt securities and one mutual fund with fair values totaling $164 million had unrealized losses aggregating $2.1 million. After we considered whether the securities were issued by the federal government or its agencies and whether downgrades by bond rating agencies had occurred, we determined that unrealized losses were due to changing interest rate environments. As we do not intend to sell our debt securities before recovery of their cost basis and we believe it is more likely than not that we will not be required to sell our debt securities before recovery of the cost basis, no unrealized losses are deemed to be other-than-temporary. The amortized cost and fair values of debt securities at December 31, 2015, by maturity, are shown in the following table. The contractual maturity is utilized for U.S. Government agency debt obligations and municipal bonds. Expected maturities may differ from contractual maturities because borrowers may have the right to call or prepay obligations with or without call or prepayment penalties. Securities not due at a single maturity date, primarily mortgage-backed securities, are shown separately. Weighted average yields are also reflected, with yields for municipal securities shown at their tax equivalent yield. Weighted Average Yield Amortized Cost Fair Value Due in one year or less 0.89% $ 40,382,000 $ 40,399,000 Due from one to five years 1.67 110,364,000 110,552,000 Due from five to ten years 3.09 54,022,000 54,868,000 Due after ten years 3.55 71,412,000 72,158,000 Mortgage-backed securities 1.75 66,670,000 67,074,000 Other investments 2.51 1,946,000 1,941,000 2.22% $ 344,796,000 $ 346,992,000 During 2015, municipal general obligation bonds totaling $1.5 million were sold, resulting in a nominal net gain on sale. No securities were sold during 2014. During 2013, Michigan Strategic Fund bonds totaling $10.3 million were sold at par value. Securities issued by the State of Michigan and all its political subdivisions had a combined amortized cost of $106 million and $113 million at December 31, 2015 and December 31, 2014, with estimated market values of $107 million and $114 million, respectively. Securities issued by all other states and their political subdivisions had a combined amortized cost of $24.0 million and $30.0 million at December 31, 2015 and December 31, 2014, with estimated market values of $24.1 million and $30.0 million, respectively. Total securities of any other specific issuer, other than the U.S. Government and its agencies and the State of Michigan and all its political subdivisions, did not exceed 10% of shareholders’ equity. The carrying value of U.S. Government agency debt obligations and mortgage-backed securities that are pledged to secure repurchase agreements was $155 million and $168 million at December 31, 2015 and 2014, respectively. Investments in FHLBI stock are restricted and may only be resold to, or redeemed by, the issuer. |
Note 4 - Loans and Allowance fo
Note 4 - Loans and Allowance for Loan Losses | 12 Months Ended |
Dec. 31, 2015 | |
Receivables [Abstract] | |
Loans, Notes, Trade and Other Receivables Disclosure [Text Block] | NOTE 4 – LOANS AND ALLOWANCE FOR LOAN LOSSES Loans originated for investment are stated at their principal amount outstanding adjusted for partial charge-offs, the allowance, and net deferred loan fees and costs. Interest income on loans is accrued over the term of the loans primarily using the simple interest method based on the principal balance outstanding. Interest is not accrued on loans where collectability is uncertain. Accrued interest is included in other assets in the Consolidated Balance Sheets. Loan origination fees and certain direct costs incurred to extend credit are deferred and amortized over the term of the loan or loan commitment period as an adjustment to the related loan yield. Acquired loans are those purchased in the Firstbank merger. These loans were recorded at estimated fair value at the Merger Date with no carryover of the related allowance. The acquired loans were segregated between those considered to be performing (“acquired non-impaired loans”) and those with evidence of credit deterioration (“acquired impaired loans”). Acquired loans are considered impaired if there is evidence of credit deterioration and if it is probable, at acquisition, all contractually required payments will not be collected. Acquired loans restructured after acquisition are not considered or reported as troubled debt restructurings if the loans evidenced credit deterioration as of the Merger Date and are accounted for in pools. The fair value estimates for acquired loans are based on expected prepayments and the amount and timing of discounted expected principal, interest and other cash flows. Credit discounts representing the principal losses expected over the life of the loan are also a component of the initial fair value. In determining the Merger Date fair value of acquired impaired loans, and in subsequent accounting, we have generally aggregated acquired commercial and consumer loans into pools of loans with common risk characteristics. The difference between the fair value of an acquired non-impaired loan and contractual amounts due at the Merger Date is accreted into interest income over the estimated life of the loan. Contractually required payments represent the total undiscounted amount of all uncollected principal and interest payments. Acquired non-impaired loans are placed on nonaccrual status and reported as nonperforming or past due using the same criteria applied to the originated loan portfolio. The excess of an acquired impaired loan’s contractually required payments over the amount of its undiscounted cash flows expected to be collected is referred to as the non-accretable difference. The non-accretable difference, which is neither accreted into income nor recorded on the Consolidated Balance Sheets, reflects estimated future credit losses and uncollectable contractual interest expected to be incurred over the life of the acquired impaired loan. The excess cash flows expected to be collected over the carrying amount of the acquired loan is referred to as the accretable yield. This amount is accreted into interest income over the remaining life of the acquired loans or pools using the level yield method. The accretable yield is affected by changes in interest rate indices for variable rate loans, changes in prepayment speed assumptions and changes in expected principal and interest payments over the estimated lives of the acquired impaired loans. We evaluate quarterly the remaining contractually required payments receivable and estimate cash flows expected to be collected over the lives of the impaired loans. Contractually required payments receivable may increase or decrease for a variety of reasons, for example, when the contractual terms of the loan agreement are modified, when interest rates on variable rate loans change, or when principal and/or interest payments are received. Cash flows expected to be collected on acquired impaired loans are estimated by incorporating several key assumptions similar to the initial estimate of fair value. These key assumptions include probability of default, loss given default, and the amount of actual prepayments after the Merger Date. Prepayments affect the estimated lives of loans and could change the amount of interest income, and possibly principal, expected to be collected. In re-forecasting future estimated cash flows, credit loss expectations are adjusted as necessary. The adjustments are based, in part, on actual loss severities recognized for each loan type, as well as changes in the probability of default. For periods in which estimated cash flows are not re-forecasted, the prior reporting period’s estimated cash flows are adjusted to reflect the actual cash received and credit events that transpired during the current reporting period. Increases in expected cash flows of acquired impaired loans subsequent to the Merger Date are recognized prospectively through adjustments of the yield on the loans or pools over their remaining lives, while decreases in expected cash flows are recognized as impairment through a provision for loan losses and an increase in the allowance. Year-end loans disaggregated by class of loan within the loan portfolio segments were as follows: December 31, 2015 December 31, Percent Increase Balance % Balance % (Decrease) Originated Loans Commercial: Commercial and industrial $ 577,872,000 35.7 % $ 384,570,000 30.8 % 50.3 % Vacant land, land development, and residential construction 30,138,000 1.9 29,826,000 2.4 1.0 Real estate – owner occupied 330,798,000 20.5 291,758,000 23.4 13.4 Real estate – non-owner occupied 520,754,000 32.2 410,977,000 33.0 26.7 Real estate – multi-family and residential rental 33,954,000 2.1 36,058,000 2.9 (5.8 ) Total commercial 1,493,516,000 92.4 1,153,189,000 92.5 29.5 Retail: Home equity and other 67,816,000 4.2 50,059,000 4.0 35.5 1-4 family mortgages 55,255,000 3.4 42,868,000 3.5 28.9 Total retail 123,071,000 7.6 92,927,000 7.5 32.4 Total originated loans $ 1,616,587,000 100.0 % $ 1,246,116,000 100.0 % 29.7 % December 31, 2015 December 31, Percent Increase Balance % Balance % (Decrease) Acquired Loans Commercial: Commercial and industrial $ 118,431,000 17.9 % $ 166,037,000 19.7 % (28.7% ) Vacant land, land development, and residential construction 14,982,000 2.3 22,148,000 2.6 (32.4 ) Real estate – owner occupied 115,121,000 17.4 138,630,000 16.4 (17.0 ) Real estate – non-owner occupied 123,597,000 18.7 148,597,000 17.6 (16.8 ) Real estate – multi-family and residential rental 81,049,000 12.3 86,702,000 10.3 (6.5 ) Total commercial 453,180,000 68.6 562,114,000 66.6 (19.4 ) Retail: Home equity and other 72,830,000 11.0 109,219,000 13.0 (33.3 ) 1-4 family mortgages 135,130,000 20.4 171,828,000 20.4 (21.4 ) Total retail 207,960,000 31.4 281,047,000 33.4 (26.0 ) Total acquired loans $ 661,140,000 100.0 % $ 843,161,000 100.0 % (21.6% ) December 31, 2015 December 31, 2014 Percent Increase Balance % Balance % (Decrease) Total Loans Commercial: Commercial and industrial $ 696,303,000 30.6 % $ 550,607,000 26.4 % 26.5 % Vacant land, land development, and residential construction 45,120,000 2.0 51,974,000 2.5 (13.2 ) Real estate – owner occupied 445,919,000 19.6 430,388,000 20.5 3.6 Real estate – non-owner occupied 644,351,000 28.3 559,574,000 26.8 15.2 Real estate – multi-family and residential rental 115,003,000 5.0 122,760,000 5.9 (6.3 ) Total commercial 1,946,696,000 85.5 1,715,303,000 82.1 13.5 Retail: Home equity and other 140,646,000 6.2 159,278,000 7.6 (11.7 ) 1-4 family mortgages 190,385,000 8.3 214,696,000 10.3 (11.3 ) Total retail 331,031,000 14.5 373,974,000 17.9 (11.5 ) Total loans $ 2,277,727,000 100.0 % $ 2,089,277,000 100.0 % 9.0 % The total contractually required payments and carrying value of acquired impaired loans was $24.6 million and $13.1 million, respectively, as of December 31, 2015. The total contractually required payments and carrying value of acquired impaired loans was $31.4 million and $18.6 million, respectively, as of December 31, 2014. Changes in the accretable yield for acquired impaired loans for the year ended December 31, 2015 and the seven-month period ended December 31, 2014 were as follows: 2015 Balance at December 31, 2014 $ 4,998,000 Additions 26,000 Accretion income (2,607,000 ) Net reclassification from nonaccretable to accretable 4,272,000 Reductions (1) (1,496,000 ) Balance at December 31, 2015 $ 5,193,000 2014 Balance at May 31, 2014 $ 0 Additions 2,514,000 Accretion income (786,000 ) Net reclassification from nonaccretable to accretable 3,537,000 Reductions (1) (267,000 ) Balance at December 31, 2014 $ 4,998,000 (1) Reductions primarily reflect the result of exit events, including loan payoffs and charge-offs. Concentrations within the loan portfolio were as follows at year-end: 2015 2014 Percentage of Percentage of Balance Loan Portfolio Balance Loan Portfolio Commercial real estate loans to lessors of non-residential buildings $ 506,721,000 22.2 % $ 480,170,000 23.0 % Year-end nonperforming originated loans were as follows: 2015 2014 Loans past due 90 days or more still accruing interest $ 0 $ 0 Nonaccrual loans 1,954,000 26,049,000 Total nonperforming loans $ 1,954,000 $ 26,049,000 Year-end nonperforming acquired loans were as follows: 2015 2014 Loans past due 90 days or more still accruing interest $ 5,000 $ 26,000 Nonaccrual loans 3,485,000 3,359,000 Total nonperforming loans $ 3,490,000 $ 3,385,000 The recorded principal balance of nonperforming loans was as follows: December 31, 2015 December 31, 2014 Commercial: Commercial and industrial $ 458,000 $ 6,478,000 Vacant land, land development, and residential construction 155,000 209,000 Real estate – owner occupied 1,797,000 18,063,000 Real estate – non-owner occupied 79,000 378,000 Real estate – multi-family and residential rental 157,000 106,000 Total commercial 2,646,000 25,234,000 Retail: Home equity and other 771,000 800,000 1-4 family mortgages 2,027,000 3,400,000 Total retail 2,798,000 4,200,000 Total nonperforming loans $ 5,444,000 $ 29,434,000 Acquired impaired loans are not reported as nonperforming loans based on acquired impaired loan accounting. Acquired non-impaired loans are placed on nonaccrual status and reported as nonperforming or past due using the same criteria applied to the originated loan portfolio. An age analysis of past due loans is as follows as of December 31, 2015: 30 – 59 Days Past Due 60 – 89 Days Past Due Greater Than 89 Days Past Due Total Past Due Current Total Loans Recorded Balance > 89 Days and Accruing Originated Loans Commercial: Commercial and industrial $ 0 $ 0 $ 0 $ 0 $ 577,872,000 $ 577,872,000 $ 0 Vacant land, land development, and residential construction 0 0 0 0 30,138,000 30,138,000 0 Real estate – owner occupied 432,000 0 9,000 441,000 330,357,000 330,798,000 0 Real estate – non-owner occupied 0 0 0 0 520,754,000 520,754,000 0 Real estate – multi-family and residential rental 0 0 0 0 33,954,000 33,954,000 0 Total commercial 432,000 0 9,000 441,000 1,493,075,000 1,493,516,000 0 Retail: Home equity and other 186,000 108,000 0 294,000 67,522,000 67,816,000 0 1- 4 family mortgages 107,000 95,000 356,000 558,000 54,697,000 55,255,000 0 Total retail 293,000 203,000 356,000 852,000 122,219,000 123,071,000 0 Total past due loans $ 725,000 $ 203,000 $ 365,000 $ 1,293,000 $ 1,615,294,000 $ 1,616,587,000 $ 0 30 – 59 Days Past Due 60 – 89 Days Past Due Greater Than 89 Days Past Due Total Past Due Current Total Loans Recorded Balance > 89 Days and Accruing Acquired Loans Commercial: Commercial and industrial $ 0 $ 5,000 $ 541,000 $ 546,000 $ 117,885,000 $ 118,431,000 $ 0 Vacant land, land development, and residential construction 27,000 0 0 27,000 14,955,000 14,982,000 0 Real estate – owner occupied 323,000 425,000 1,142,000 1,890,000 113,231,000 115,121,000 0 Real estate – non-owner occupied 53,000 703,000 79,000 835,000 122,762,000 123,597,000 0 Real estate – multi-family and residential rental 223,000 54,000 0 277,000 80,772,000 81,049,000 0 Total commercial 626,000 1,187,000 1,762,000 3,575,000 449,605,000 453,180,000 0 Retail: Home equity and other 395,000 44,000 28,000 467,000 72,363,000 72,830,000 5,000 1- 4 family mortgages 960,000 354,000 416,000 1,730,000 133,400,000 135,130,000 0 Total retail 1,355,000 398,000 444,000 2,197,000 205,763,000 207,960,000 5,000 Total past due loans $ 1,981,000 $ 1,585,000 $ 2,206,000 $ 5,772,000 $ 655,368,000 $ 661,140,000 $ 5,000 An age analysis of past due loans is as follows as of December 31, 2014: 30 – 59 Days Past Due 60 – 89 Days Past Due Greater Than 89 Days Past Due Total Past Due Current Total Loans Recorded Balance > 89 Days and Accruing Originated Loans Commercial: Commercial and industrial $ 0 $ 0 $ 0 $ 0 $ 384,570,000 $ 384,570,000 $ 0 Vacant land, land development, and residential construction 0 0 0 0 29,826,000 29,826,000 0 Real estate – owner occupied 0 0 120,000 120,000 291,638,000 291,758,000 0 Real estate – non-owner occupied 0 0 116,000 116,000 410,861,000 410,977,000 0 Real estate – multi-family and residential rental 0 0 0 0 36,058,000 36,058,000 0 Total commercial 0 0 236,000 236,000 1,152,953,000 1,153,189,000 0 Retail: Home equity and other 38,000 3,000 0 41,000 50,018,000 50,059,000 0 1-4 family mortgages 0 0 366,000 366,000 42,502,000 42,868,000 0 Total retail 38,000 3,000 366,000 407,000 92,520,000 92,927,000 0 Total past due loans $ 38,000 $ 3,000 $ 602,000 $ 643,000 $ 1,245,473,000 $ 1,246,116,000 $ 0 30 – 59 Days Past Due 60 – 89 Days Past Due Greater Than 89 Days Past Due Total Past Due Current Total Loans Recorded Balance > 89 Days and Accruing Acquired Loans Commercial: Commercial and industrial $ 29,000 $ 32,000 $ 76,000 $ 137,000 $ 165,900,000 $ 166,037,000 $ 0 Vacant land, land development, and residential construction 0 38,000 0 38,000 22,110,000 22,148,000 0 Real estate – owner occupied 51,000 425,000 1,625,000 2,101,000 136,529,000 138,630,000 0 Real estate – non-owner occupied 68,000 598,000 395,000 1,061,000 147,536,000 148,597,000 0 Real estate – multi-family and residential rental 37,000 0 105,000 142,000 86,560,000 86,702,000 0 Total commercial 185,000 1,093,000 2,201,000 3,479,000 558,635,000 562,114,000 0 Retail: Home equity and other 445,000 419,000 155,000 1,019,000 108,200,000 109,219,000 26,000 1-4 family mortgages 1,087,000 408,000 750,000 2,245,000 169,583,000 171,828,000 0 Total retail 1,532,000 827,000 905,000 3,264,000 277,783,000 281,047,000 26,000 Total past due loans $ 1,717,000 $ 1,920,000 $ 3,106,000 $ 6,743,000 $ 836,418,000 $ 843,161,000 $ 26,000 Impaired originated loans with no related allowance recorded were as follows as of December 31, 2015: Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Year-To-Date Average Recorded Principal Balance With no related allowance recorded: Commercial: Commercial and industrial $ 1,509,000 $ 1,501,000 $ 1,683,000 Vacant land, land development and residential construction 0 0 81,000 Real estate – owner occupied 712,000 505,000 927,000 Real estate – non-owner occupied 5,696,000 5,696,000 3,703,000 Real estate – multi-family and residential rental 0 0 186,000 Total commercial 7,917,000 7,702,000 6,580,000 Retail: Home equity and other 14,000 5,000 153,000 1-4 family mortgages 1,328,000 657,000 637,000 Total retail 1,342,000 662,000 790,000 Total with no related allowance recorded $ 9,259,000 $ 8,364,000 $ 7,370,000 Impaired originated loans with an allowance recorded and total impaired loans were as follows as of December 31, 2015: Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Year-To-Date Average Recorded Principal Balance With an allowance recorded: Commercial: Commercial and industrial $ 352,000 $ 305,000 $ 165,000 $ 2,314,000 Vacant land, land development and residential construction 2,017,000 1,655,000 245,000 1,952,000 Real estate – owner occupied 5,867,000 1,314,000 242,000 7,285,000 Real estate – non-owner occupied 4,841,000 4,841,000 201,000 9,265,000 Real estate – multi-family and residential rental 1,028,000 1,028,000 365,000 1,219,000 Total commercial 14,105,000 9,143,000 1,218,000 22,035,000 Retail: Home equity and other 600,000 562,000 209,000 227,000 1-4 family mortgages 165,000 128,000 47,000 538,000 Total retail 765,000 690,000 256,000 765,000 Total with an allowance recorded $ 14,870,000 $ 9,833,000 $ 1,474,000 $ 22,800,000 Total impaired loans: Commercial $ 22,022,000 $ 16,845,000 $ 1,218,000 $ 28,615,000 Retail 2,107,000 1,352,000 256,000 1,555,000 Total impaired loans $ 24,129,000 $ 18,197,000 $ 1,474,000 $ 30,170,000 Impaired acquired loans with no related allowance recorded were as follows as of December 31, 2015: Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Year-To-Date Average Recorded Principal Balance With no related allowance recorded: Commercial: Commercial and industrial $ 1,528,000 $ 1,494,000 $ 1,444,000 Vacant land, land development and residential construction 0 0 0 Real estate – owner occupied 2,233,000 1,952,000 818,000 Real estate – non-owner occupied 880,000 880,000 565,000 Real estate – multi-family and residential rental 452,000 404,000 1,520,000 Total commercial 5,093,000 4,730,000 4,347,000 Retail: Home equity and other 471,000 310,000 400,000 1-4 family mortgages 1,804,000 1,548,000 994,000 Total retail 2,275,000 1,858,000 1,394,000 Total with no related allowance recorded $ 7,368,000 $ 6,588,000 $ 5,741,000 Impaired acquired loans with an allowance recorded and total impaired loans were as follows as of December 31, 2015: Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Year-To-Date Average Recorded Principal Balance With an allowance recorded: Commercial: Commercial and industrial $ 383,000 $ 376,000 $ 102,000 $ 127,000 Vacant land, land development and residential construction 0 0 0 0 Real estate – owner occupied 51,000 51,000 4,000 823,000 Real estate – non-owner occupied 0 0 0 0 Real estate – multi-family and residential rental 23,000 23,000 0 21,000 Total commercial 457,000 450,000 106,000 971,000 Retail: Home equity and other 0 0 0 0 1-4 family mortgages 175,000 175,000 6,000 185,000 Total retail 175,000 175,000 6,000 185,000 Total with an allowance recorded $ 632,000 $ 625,000 $ 112,000 $ 1,156,000 Total impaired loans: Commercial $ 5,550,000 $ 5,180,000 $ 106,000 $ 5,318,000 Retail 2,450,000 2,033,000 6,000 1,579,000 Total impaired loans $ 8,000,000 $ 7,213,000 $ 112,000 $ 6,897,000 Impaired originated loans with no related allowance recorded were as follows as of December 31, 2014: Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Year-To-Date Average Recorded Principal Balance With no related allowance recorded: Commercial: Commercial and industrial $ 1,170,000 $ 1,164,000 $ 652,000 Vacant land, land development and residential construction 540,000 209,000 227,000 Real estate – owner occupied 3,609,000 1,901,000 4,365,000 Real estate – non-owner occupied 1,210,000 1,210,000 971,000 Real estate – multi-family and residential rental 375,000 317,000 64,000 Total commercial 6,904,000 4,801,000 6,279,000 Retail: Home equity and other 207,000 191,000 517,000 1-4 family mortgages 1,144,000 560,000 585,000 Total retail 1,351,000 751,000 1,102,000 Total with no related allowance recorded $ 8,255,000 $ 5,552,000 $ 7,381,000 Impaired originated loans with an allowance recorded and total impaired loans were as follows as of December 31, 2014: Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Year-To-Date Average Recorded Principal Balance With an allowance recorded: Commercial: Commercial and industrial $ 5,299,000 $ 5,226,000 $ 1,578,000 $ 2,759,000 Vacant land, land development and residential construction 2,000,000 2,000,000 151,000 3,229,000 Real estate – owner occupied 15,745,000 15,674,000 2,200,000 4,630,000 Real estate – non-owner occupied 16,033,000 15,949,000 4,779,000 18,245,000 Real estate – multi-family and residential rental 1,371,000 1,371,000 666,000 1,700,000 Total commercial 40,448,000 40,220,000 9,374,000 30,563,000 Retail: Home equity and other 115,000 84,000 84,000 128,000 1-4 family mortgages 2,194,000 2,000,000 694,000 2,115,000 Total retail 2,309,000 2,084,000 778,000 2,243,000 Total with an allowance recorded $ 42,757,000 $ 42,304,000 $ 10,152,000 $ 32,806,000 Total impaired loans: Commercial $ 47,352,000 $ 45,021,000 $ 9,374,000 $ 36,842,000 Retail 3,660,000 2,835,000 778,000 3,345,000 Total impaired loans $ 51,012,000 $ 47,856,000 $ 10,152,000 $ 40,187,000 Impaired acquired loans with no related allowance recorded were as follows as of December 31, 2014: Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Year-To-Date Average Recorded Principal Balance With no related allowance recorded: Commercial: Commercial and industrial $ 1,586,000 $ 1,579,000 $ 563,000 Vacant land, land development and residential construction 0 0 0 Real estate – owner occupied 113,000 113,000 52,000 Real estate – non-owner occupied 326,000 326,000 260,000 Real estate – multi-family and residential rental 487,000 487,000 166,000 Total commercial 2,512,000 2,505,000 1,041,000 Retail: Home equity and other 641,000 639,000 262,000 1-4 family mortgages 866,000 866,000 458,000 Total retail 1,507,000 1,505,000 720,000 Total with no related allowance recorded $ 4,019,000 $ 4,010,000 $ 1,761,000 Impaired acquired loans with an allowance recorded and total impaired loans were as follows as of December 31, 2014: Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Year-To-Date Average Recorded Principal Balance With an allowance recorded: Commercial: Commercial and industrial $ 0 $ 0 $ 0 $ 0 Vacant land, land development and residential construction 0 0 0 0 Real estate – owner occupied 1,516,000 1,502,000 605,000 501,000 Real estate – non-owner occupied 0 0 0 0 Real estate – multi-family and residential rental 0 0 0 0 Total commercial 1,516,000 1,502,000 605,000 501,000 Retail: Home equity and other 0 0 0 0 1-4 family mortgages 0 0 0 0 Total retail 0 0 0 0 Total with an allowance recorded $ 1,516,000 $ 1,502,000 $ 605,000 $ 501,000 Total impaired loans: Commercial $ 4,028,000 $ 4,007,000 $ 605,000 $ 1,542,000 Retail 1,507,000 1,505,000 0 720,000 Total impaired loans $ 5,535,000 $ 5,512,000 $ 605,000 $ 2,262,000 Impaired loans for which no allocation of the allowance for loan losses has been made generally reflect situations whereby the loans have been charged-down to estimated collateral value. Interest income recognized on accruing troubled debt restructurings totaled $2.4 million, $1.8 million and $2.5 million during 2015, 2014 and 2013, respectively. Interest income recognized on nonaccrual loans totaled $1.7 million during 2015 and $1.9 million during 2013, reflecting the collection of interest at the time of principal pay-off. No such significant collections of interest income were recorded during 2014. Lost interest income on nonaccrual loans totaled $0.3 million, $0.1 million and $0.4 million during 2015, 2014 and 2013, respectively. Credit Quality Indicators. Loans by credit quality indicators were as follows as of December 31, 2015: Originated Loans Commercial credit exposure – credit risk profiled by internal credit risk grades: Commercial Commercial Vacant Land, Commercial Commercial Real Estate - Commercial Land Development, Real Estate - Real Estate - Multi-Family and and Residential Owner Non-Owner and Residential Industrial Construction Occupied Occupied Rental Internal credit risk grade groupings: Grades 1 – 4 $ 417,120,000 $ 18,118,000 $ 230,629,000 $ 400,350,000 $ 19,121,000 Grades 5 – 7 160,454,000 10,365,000 98,332,000 120,404,000 13,806,000 Grades 8 – 9 298,000 1,655,000 1,837,000 0 1,027,000 Total commercial $ 577,872,000 $ 30,138,000 $ 330,798,000 $ 520,754,000 $ 33,954,000 Retail credit exposure – credit risk profiled by collateral type: Retail Retail Home Equity 1-4 Family and Other Mortgages Total retail $ 67,816,000 $ 55,255,000 Acquired Loans Commercial credit exposure – credit risk profiled by internal credit risk grades: Commercial Commercial Vacant Land, Commercial Commercial Real Estate - Commercial Land Development, Real Estate - Real Estate - Multi-Family and and Residential Owner Non-Owner and Residential Industrial Construction Occupied Occupied Rental Internal credit risk grade groupings: Grades 1 – 4 $ 67,978,000 $ 3,095,000 $ 45,807,000 $ 71,197,000 $ 44,763,000 Grades 5 – 7 47,589,000 11,364,000 63,563,000 50,066,000 35,288,000 Grades 8 – 9 2,864,000 523,000 5,751,000 2,334,000 998,000 Total commercial $ 118,431,000 $ 14,982,000 $ 115,121,000 $ 123,597,000 $ 81,049,000 Retail credit exposure – credit risk profiled by collateral type: Retail Retail Home Equity 1-4 Family and Other Mortgages Total retail $ 72,830,000 $ 135,130,000 Loans by credit quality indicators were as follows as of December 31, 2014: Originated Loans Commercial credit exposure – credit risk profiled by internal credit risk grades: Commercial and Industrial Commercial Vacant Land, Land Development, and Residential Construction Commercial Real Estate - Owner Occupied Commercial Real Estate - Non-Owner Occupied Commercial Real Estate - Multi-Family and Residential Rental Internal credit risk grade groupings: Grades 1 – 4 $ 266,631,000 $ 11,242,000 $ 190,656,000 $ 285,035,000 $ 12,394,000 Grades 5 – 7 109,639,000 16,375,000 83,123,000 113,982,000 22,282,000 Grades 8 – 9 8,300,000 2,209,000 17,979,000 11,960,000 1,382,000 Total commercial $ 384,570,000 $ 29,826,000 $ 291,758,000 $ 410,977,000 $ 36,058,000 Retail credit exposure – credit risk profiled by collateral type: Retail Retail Home Equity 1-4 Family and Other Mortgages Total retail $ 50,059,000 $ 42,868,000 Acquired Loans Commercial credit exposure – credit risk profiled by internal credit risk grades: Commercial Commercial Vacant Land, Commercial Commercial Real Estate - Commercial Land Development, Real Estate - Real Estate - Multi-Family and and Residential Owner Non-Owner and Residential Industrial Construction Occupied Occupied Rental Internal credit risk grade groupings: Grades 1 – 4 $ 72,411,000 $ 5,875,000 $ 39,496,000 $ 65,886,000 $ 35,858,000 Grades 5 – 7 90,320,000 14,472,000 92,212,000 78,103,000 49,781,000 Grades 8 – 9 3,306,000 1,801,000 6,922,000 4,608,000 1,063,000 Total commercial $ 166,037,000 $ 22,148,000 $ 138,630,000 $ 148,597,000 $ 86,702,000 Retail credit exposure – credit risk profiled by collateral type: Retail Retail Home Equity 1-4 Family and Other Mortgages Total retail $ 109,219,000 $ 171,828,000 All commercial loans are graded using the following number system: Grade 1. Excellent credit rating that contain very little, if any, risk of loss. Grade 2. Strong sources of repayment and have low repayment risk. Grade 3. Good sources of repayment and have limited repayment risk. Grade 4. Adequate sources of repayment and acceptable repayment risk; however, characteristics are present that render the credit more vulnerable to a negative event. Grade 5. Marginally acceptable sources of repayment and exhibit defined weaknesses and negative characteristics. Grade 6. Well defined weaknesses which may include negative current cash flow, high leverage, or operating losses. Generally, if the credit does not stabilize or if further deterioration is observed in the near term, the loan will likely be downgraded and placed on the Watch List (i.e., list of lending relationships that receive increased scrutiny and review by the Board of Directors and senior management). Grade 7. Defined weaknesses or negative trends that merit close monitoring through Watch List status. Grade 8. Inadequately protected by current sound net worth, paying capacity of the obligor, or pledged collateral, resulting in a distinct possibility of loss requiring close monitoring through Watch List status. Grade 9. Vital weaknesses exist where collection of principal is highly questionable. Grade 10. Considered uncollectable and of such little value that their continuance as an asset is not warranted. The primary risk elements with respect to commercial loans are the financial condition of the borrower, the sufficiency of collateral, and timeliness of scheduled payments. We have a policy of requesting and reviewing periodic financial statements from commercial loan customers and employ a disciplined and formalized review of the existence of collateral and its value. The primary risk element with respect to each residential real estate loan and consumer loan is the timeliness of scheduled payments. We have a reporting system that monitors past due loans and have adopted policies to pursue creditor’s rights in order to preserve our collateral position. The allowance for originated loan losses and recorded investments in originated loans for the year-ended December 31, 2015 are as follows: Commercial Loans Retail Loans Unallocated Total Allowance for loan losses: Beginning balance $ 17,736,000 $ 1,487,000 $ 76,000 $ 19,299,000 Provision for loan losses (1,771,000 ) 1,006,000 64,000 (701,000 ) Charge-offs (4,915,000 ) (1,280,000 ) 0 (6,195,000 ) Recoveries 2,622,000 208,000 0 2,830,000 Ending balance $ 13,672,000 $ 1,421,000 $ 140,000 $ 15,233,000 Ending balance: individually evaluated for impairment $ 1,218,000 $ 256,000 $ 0 $ 1,474,000 Ending balance: collectively evaluated for impairment $ 12,454,000 $ 1,165,000 $ 140,000 $ 13,759,000 Total loans: Ending balance $ 1,493,516,000 $ 123,071,000 $ 1,616,587,000 Ending balance: individually evaluated for impairment $ 16,845,000 $ 1,352,000 $ 18,197,000 Ending balance: collectively evaluated for impairment $ 1,476,671,000 $ 121,719,000 $ 1,598,390,000 The allowance for acquired loan losses for the year-ended December 31, 2015 is as follows: Commercial Loans Retail Loans Unallocated Total Allowance for loan losses: Beginning balance $ 681,000 $ 61,000 $ 0 $ 742,000 Provision for loan losses (617,000 ) 318,000 0 (299,000 ) Charge-offs (77,000 ) (7,000 ) 0 (84,000 ) Recoveries 45,000 44,000 0 89,000 Ending balance $ 32,000 $ 416,000 $ 0 $ 448,000 The allowance for originated loan losses and recorded investments in originated loans for the year-ended December 31, 2014 are as follows: Commercial Loans Retail Loans Unallocated Total Allowance for loan losses: Beginning balance $ 20,455,000 $ 2,358,000 $ 8,000 $ 22,821,000 Provision for loan losses (3,140,000 ) (721,000 ) 68,000 (3,793,000 ) Charge-offs (876,000 ) (554,000 ) 0 (1,430,000 ) Recoveries 1,297,000 404,000 0 1,701,000 Ending balance $ 17,736,000 $ 1,487,000 $ 76,000 $ 19,299,000 Ending balance: individually evaluated for impairment $ 9,374,000 $ 778,000 $ 0 $ 10,152,000 Ending balance: collectively evaluated for impairment $ 8,362,000 $ 709,000 $ 76,000 $ 9,147,000 Total loans: Ending balance $ 1,153,189,000 $ 92,927,000 $ 1,246,116,000 Ending balance: individually evaluated for impairment $ 45,021,000 $ 2,835,000 $ 47,856,000 Ending balance: collectively evaluated for impairment $ 1,108,168,000 $ 90,092,000 $ 1,198,260,000 The allowance for acquired loan losses for the year-ended December 31, 2014 is as follows: Commercial Loans Retail Loans Unallocated Total Allowance for loan losses: Beginning balance $ 0 $ 0 $ 0 $ 0 Provision for loan losses 734,000 59,000 0 793,000 Charge-offs (55,000 ) (16,000 ) 0 (71,000 ) Recoveries 2,000 18,000 0 20,000 Ending balance $ 681,000 $ 61,000 $ 0 $ 742,000 In accordance with the applicable accounting guidance for business combinations, there was no carry-over of Firstbank’s previously established allowance for loan losses. The allowance for originated loan losses and recorded investments in originated loans for the year-ended December 31, 2013 are as follows: Commercial Loans Retail Loans Unallocated Total Allowance for loan losses: Beginning balance $ 26,043,000 $ 2,645,000 $ (11,000 ) $ 28,677,000 Provision for loan losses (6,730,000 ) (489,000 ) 19,000 (7,200,000 ) Charge-offs (5,120,000 ) (170,000 ) 0 (5,290,000 ) Recoveries 6,262,000 372,000 0 6,634,000 Ending balance $ 20,455,000 $ 2,358,000 $ 8,000 $ 22,821,000 Ending balance: individually evaluated for impairment $ 11,260,000 $ 1,126,000 $ 0 $ 12,386,000 Ending balance: collectively evaluated for impairment $ 9,195,000 $ 1,232,000 $ 8,000 $ 10,435,000 Total loans: Ending balance $ 986,696,000 $ 66,547,000 $ 1,053,243,000 Ending balance: individually evaluated for impairment $ 33,240,000 $ 3,628,000 $ 36,868,000 Ending balance: collectively evaluated for impairment $ 953,456,000 $ 62,919,000 $ 1,016,375,000 Loans modified as troubled debt restructurings during 2015 were as follows: Pre- Post- Modification Modification Re |
Note 5 - Premises and Equipment
Note 5 - Premises and Equipment, Net | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment Disclosure [Text Block] | NOTE 5 - PREMISES AND EQUIPMENT, NET Year-end premises and equipment were as follows: 2015 2014 Land and improvements $ 16,529,000 $ 16,579,000 Buildings 39,394,000 38,761,000 Furniture and equipment 16,978,000 16,622,000 72,901,000 71,962,000 Less: accumulated depreciation 26,039,000 23,150,000 Total premises and equipment $ 46,862,000 $ 48,812,000 Future lease payments total $1.6 million, comprised of $0.4 million in one year, $0.8 million in one to three years, $0.3 million in three to five years and $0.1 million in over five years. Depreciation expense totaled $3.0 million in 2015, $2.3 million in 2014, and $1.3 million in 2013. |
Note 6 - Mortgage Loan Servicin
Note 6 - Mortgage Loan Servicing | 12 Months Ended |
Dec. 31, 2015 | |
Mortgage Loan Servicing [Abstract] | |
Mortgage Loan Servicing [Text Block] | NOTE 6 – MORTGAGE LOAN SERVICING Mortgage loans serviced for others are not reported as assets in the Consolidated Balance Sheets. The mortgage loan servicing portfolio was acquired in the merger with Firstbank. The year-end aggregate unpaid principal balances of mortgage loans serviced for others were as follows: 2015 2014 Mortgage loan portfolios serviced for: Federal Home Loan Mortgage Corporation $ 598,510,000 $ 589,118,000 Federal Home Loan Bank 4,675,000 1,702,000 Total mortgage loans serviced for others $ 603,185,000 $ 590,820,000 Custodial escrow balances maintained in connection with serviced loans were $3.0 million and $2.8 million as of December 31, 2015 and December 31, 2014, respectively. Activity for capitalized mortgage loan servicing rights during 2015 and 2014 was as follows: 2015 2014 Balance at beginning of year $ 6,712,000 $ 0 Additions 1,487,000 575,000 Amortized to expense (2,078,000 ) (1,252,000 ) Firstbank merger 0 7,389,000 Balance at end of year $ 6,121,000 $ 6,712,000 We determined that no valuation allowance was necessary as of December 31, 2015 or December 31, 2014. The estimated fair value of mortgage servicing rights was $7.8 million and $7.3 million as of December 31, 2015 and December 31, 2014, respectively. The fair value of mortgage servicing rights is estimated using a valuation model that calculates the present value of estimated future net servicing cash flows, taking into consideration expected mortgage loan prepayment rates, discount rates, servicing costs and other economic factors, which are determined based on current market conditions. During 2015, fair value was determined using a discount rate of 7.10%, a weighted average constant prepayment rate of 11.7%, depending on the stratification of the specific right, and a weighted average delinquency rate of 0.90%. During 2014, fair value was determined using a discount rate of 7.05%, a weighted average constant prepayment rate of 12.6%, depending on the stratification of the specific right, and a weighted average delinquency rate of 1.01%. The weighted average amortization period was 3.6 years and 3.7 years as of December 31, 2015 and December 31, 2014, respectively. Estimated amortization as of December 31, 2015 is as follows: 2016 $ 1,409,000 2017 1,146,000 2018 955,000 2019 804,000 2020 659,000 Thereafter 1,148,000 |
Note 7 - Core Deposit Intangibl
Note 7 - Core Deposit Intangible Assets, Net | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Intangible Assets Disclosure [Text Block] | NOTE 7 – CORE DEPOSIT INTANGIBLE ASSETS, NET The gross carrying amount of core deposit intangible assets totaled $17.5 million as of December 31, 2015 and December 31, 2014. As of December 31, 2015, the accumulated amortization on core deposit intangible assets was $4.9 million, providing for a net carry balance of $12.6 million. As of December 31, 2014, the accumulated amortization on core deposit intangible assets was $1.9 million, providing for a net carry balance of $15.6 million. The scheduled amortization expense on core deposit intangible assets in future periods is: 2016 $ 2,675,000 2017 2,357,000 2018 2,039,000 2019 1,721,000 2020 1,403,000 Thereafter 2,436,000 |
Note 8 - Deposits
Note 8 - Deposits | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Deposit Liabilities Disclosures [Text Block] | NOTE 8 – DEPOSITS Deposits at year-end are summarized as follows: December 31, 2015 December 31, 2014 Percent Increase Balance % Balance % (Decrease) Noninterest-bearing demand $ 674,568,000 29.6 % $ 558,738,000 24.5 % 20.7 % Interest-bearing checking 403,354,000 17.7 413,382,000 18.2 (2.4 ) Money market 274,395,000 12.1 235,587,000 10.3 16.5 Savings 332,794,000 14.6 330,459,000 14.5 0.7 Time, under $100,000 155,655,000 6.9 181,026,000 8.0 (14.0 ) Time, $100,000 and over 313,247,000 13.8 382,120,000 16.8 (18.0 ) 2,154,013,000 94.7 2,101,312,000 92.3 2.5 Out-of-area time, under $100,000 149,000 < 0.1 2,422,000 0.1 NM Out-of-area time, $100,000 and over 121,220,000 5.3 173,181,000 7.6 (30.0 ) 121,369,000 5.3 175,603,000 7.7 (30.9 ) Total deposits $ 2,275,382,000 100.0 % $ 2,276,915,000 100.0 % (0.1% ) Out-of-area time deposits consist of deposits obtained from depositors outside of our primary market areas almost exclusively through deposit brokers. The following table depicts the maturity distribution for time deposits at year-end: 2015 2014 In one year or less $ 305,122,000 $ 368,163,000 In one to two years 145,775,000 153,346,000 In two to three years 71,988,000 118,919,000 In three to four years 37,527,000 60,953,000 In four to five years 29,859,000 37,368,000 Total certificates of deposit $ 590,271,000 $ 738,749,000 The following table depicts the maturity distribution for time deposits with balances of $100,000 or more at year-end: 2015 2014 Up to three months $ 73,783,000 $ 75,356,000 Three months to six months 50,375,000 65,838,000 Six months to twelve months 91,786,000 125,492,000 Over twelve months 218,523,000 288,615,000 Total certificates of deposit $ 434,467,000 $ 555,301,000 Total time deposits of more than $250,000 totaled $180.4 million and $223.0 million at year-end 2015 and 2014, respectively. |
Note 9 - Securities Sold Under
Note 9 - Securities Sold Under Agreements to Repurchase | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Repurchase Agreements, Resale Agreements, Securities Borrowed, and Securities Loaned Disclosure [Text Block] | NOTE 9 – SECURITIES SOLD UNDER AGREEMENTS TO REPURCHASE Information regarding securities sold under agreements to repurchase at year-end is summarized below: 2015 2014 Outstanding balance at year-end $ 154,771,000 $ 167,569,000 Weighted average interest rate at year-end 0.11 % 0.11 % Average daily balance during the year $ 146,826,000 $ 105,474,000 Weighted average interest rate during the year 0.11 % 0.12 % Maximum daily balance during the year $ 168,211,000 $ 178,042,000 Securities sold under agreements to repurchase (“repurchase agreements”) generally have original maturities of less than one year. Repurchase agreements are treated as financings, and the obligations to repurchase securities sold are reflected as liabilities. Securities involved with the repurchase agreements are recorded as assets of our Bank and are held in safekeeping by a correspondent bank. Repurchase agreements are offered principally to certain large deposit customers. Repurchase agreements are secured by securities with an aggregate fair value equal to the aggregate outstanding balance. |
Note 10 - Federal Home Loan Ban
Note 10 - Federal Home Loan Bank Advances | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Federal Home Loan Bank Advances, Disclosure [Text Block] | NOTE 10 - FEDERAL HOME LOAN BANK ADVANCES Federal Home Loan Bank of Indianapolis (“FHLBI”) advances totaled $68.0 million at December 31, 2015, and were expected to mature at varying dates from December 2016 through August 2022, with fixed rates of interest from 1.22% to 2.11% and averaging 1.49%. FHLBI advances totaled $54.0 million at December 31, 2014, and were expected to mature at varying dates ranging from January 2015 through September 2017, with fixed rates of interest from 0.62% to 1.51% and averaging 1.26%. Each advance is payable at its maturity date, and is subject to a prepayment fee if paid prior to the maturity date. The advances are generally collateralized by a blanket lien on our residential mortgage loan portfolio. Our borrowing line of credit as of December 31, 2015 totaled $467 million, with availability of $399 million. Scheduled maturities as of December 31, 2015: 2016 $ 3,000,000 2017 45,000,000 2018 0 2019 0 2020 10,000,000 Thereafter 10,000,000 |
Note 11 - Federal Income Taxes
Note 11 - Federal Income Taxes | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Income Tax Disclosure [Text Block] | NOTE 11 - FEDERAL INCOME TAXES The consolidated income tax expense is as follows: 2015 2014 2013 Current expense $ 7,399,000 $ 3,359,000 $ 0 Deferred expense 4,592,000 4,506,000 8,092,000 Change in valuation allowance (180,000 ) 0 0 Tax expense $ 11,811,000 $ 7,865,000 $ 8,092,000 A reconciliation of the differences between the federal income tax expense recorded and the amount computed by applying the federal statutory rate to income before income taxes is as follows: 2015 2014 2013 Tax at statutory rate (35%) $ 13,591,000 $ 8,819,000 $ 8,794,000 Increase (decrease) from Tax-exempt interest (781,000 ) (621,000 ) (347,000 ) Bank owned life insurance (384,000 ) (415,000 ) (465,000 ) Change in valuation allowance (180,000 ) 0 0 Other (435,000 ) 82,000 110,000 Tax expense $ 11,811,000 $ 7,865,000 $ 8,092,000 Significant components of deferred tax assets and liabilities as of December 31, 2015 and 2014 are as follows: 2015 2014 Deferred income tax assets Allowance for loan losses $ 5,488,000 $ 7,014,000 Deferred compensation 1,367,000 1,304,000 Stock compensation 767,000 521,000 Nonaccrual loan interest income 602,000 471,000 Deferred loan fees 504,000 445,000 Losses on capital investments 270,000 450,000 Fair value write-downs on foreclosed properties 115,000 212,000 Fair value of interest rate swap 89,000 89,000 Tax credit carryforwards 0 3,395,000 Business combination adjustments 0 315,000 Other 283,000 410,000 Deferred tax asset before valuation allowance 9,485,000 14,626,000 Valuation allowance (270,000 ) (450,000 ) Deferred tax asset after valuation allowance 9,215,000 14,176,000 Deferred income tax liabilities Depreciation 1,128,000 1,217,000 Prepaid expenses 378,000 425,000 Core deposit intangible 4,349,000 5,386,000 Mortgage loan servicing rights 2,142,000 2,349,000 Unrealized gain on securities 768,000 112,000 Business combination adjustments 1,091,000 0 Other 188,000 476,000 Deferred tax liability 10,044,000 9,965,000 Total net deferred tax asset (liability) $ (829,000 ) $ 4,211,000 A valuation allowance related to deferred tax assets is required when it is considered more likely than not that all or part of the benefits related to such assets will not be realized. At December 31, 2014, we carried a valuation allowance against the $0.5 million deferred tax asset associated with certain capital investments acquired in our merger with Firstbank. During 2015, we disposed of these investments entirely, partially offsetting the capital loss incurred for tax purposes with capital gains resulting from the FHLBI initiated repurchase of its excess shares. We reversed $0.2 million of the valuation allowance due to the capital gain, and continue to carry a valuation allowance on the $0.3 million deferred tax asset associated with $0.8 million of capital loss carry forward that will expire at December 31, 2020. We believe the remainder of our deferred tax assets are more likely than not to be realized. We had no unrecognized tax benefits at any time during 2015 or 2014 and do not anticipate any significant increase in unrecognized tax benefits during 2016. Should the accrual of any interest or penalties relative to unrecognized tax benefits be necessary, it is our policy to record such accruals in our income tax accounts; no such accruals existed at any time during 2015 or 2014. Our U.S. federal income tax returns are no longer subject to examination for all years before 2012. |
Note 12 - Stock-based Compensat
Note 12 - Stock-based Compensation | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Disclosure of Compensation Related Costs, Share-based Payments [Text Block] | NOTE 12 – STOCK-BASED COMPENSATION Stock-based compensation plans are used to provide directors and employees with an increased incentive to contribute to our long-term performance and growth, to align the interests of directors and employees with the interests of our shareholders through the opportunity for increased stock ownership and to attract and retain directors and employees. No stock option or restricted stock grants were made during 2013 due to the pending merger with Firstbank. During 2014 and 2015, stock option and restricted stock grants were provided to certain employees through the Stock Incentive Plan of 2006. In addition, stock grants were provided to directors as retainer payments during 2014 and 2015 through the Stock Incentive Plan of 2006. Under the Stock Incentive Plan of 2006, incentive awards may include, but are not limited to, stock options, restricted stock, stock appreciation rights and stock awards. Incentive awards that are stock options or stock appreciation rights are granted with an exercise price not less than the closing price of our common stock on the date of grant. Price, vesting and expiration date parameters are determined by Mercantile’s Compensation Committee on a grant-by-grant basis. Generally, the stock options granted to employees during 2006, 2007 and 2008 fully vested after two years and expired after seven years. Restricted stock awards granted to directors and certain employees during 2012 fully vested after two years. No payments were required from employees for the restricted stock awards. The restricted stock awards granted to certain employees during 2014 and 2015 fully vest after three years. The stock options granted to certain employees during 2014 and 2015, which were at 110% of the market price on the date of grant, fully vest after two years and expire after seven years. At year-end 2015, there were approximately 215,000 shares authorized for future incentive awards. In conjunction with the Firstbank merger, all of our outstanding restricted stock awards, which were scheduled to vest in full in November, 2014, became fully vested on June 1, 2014, resulting in the recognition of compensation expense of $0.2 million in the second quarter of 2014 to reflect the accelerated vesting of the restricted stock awards. The unrecognized compensation cost related to unvested stock options was less than $0.1 million as of December 31, 2015, which will be recognized as expense over the next two years. The unrecognized compensation cost related to restricted stock grants was $3.0 million as of December 31, 2015, which will be recognized as expense over the next three years. Also in conjunction with the Firstbank merger, we issued Mercantile stock options in replacement of all outstanding Firstbank stock option grants that had been previously issued to Firstbank employees under the Firstbank Corporation Stock Option and Restricted Stock Plan of 1997 and the Firstbank Corporation 2006 Stock Compensation Plan. In general, stock option grants for 50 shares or less fully vested after one year from date of grant, while stock option grants for more than 50 shares vested over a five-year period at 20% of the grant per annum starting one year from date of grant. The stock option grants expire ten years from date of grant. There were approximately 282,200 Mercantile stock options issued as a result of the merger, with about 258,400 of the stock option grants fully vested and exercisable on the date of merger. The remaining 23,800 stock option grants vested during 2015. A summary of restricted stock activity from grants issued under the Mercantile Stock Incentive Plan of 2006 during the past three years is as follows: 2015 2014 2013 Shares Weighted Average Fair Value Shares Weighted Average Fair Value Shares Weighted Average Fair Value Nonvested at beginning of year 101,490 $ 20.13 63,800 $ 14.30 66,100 $ 14.30 Granted 65,933 25.14 101,490 20.13 0 NA Vested (4,666 ) 20.13 (63,300 ) 14.30 0 NA Forfeited (7,256 ) 20.13 (500 ) 14.30 (2,300 ) 14.30 Nonvested at end of year 155,501 $ 22.25 101,490 $ 20.13 63,800 $ 14.30 A summary of stock option activity from grants issued under various Mercantile plans during the past three years is as follows: 2015 2014 2013 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Outstanding at beginning of year 35,335 $ 31.09 60,876 $ 33.11 152,896 $ 26.15 Granted 4,200 27.66 6,488 22.15 0 NA Exercised (2,700 ) 6.21 (2,845 ) 17.74 (51,055 ) 13.72 Forfeited or expired (26,147 ) 35.88 (29,184 ) 34.60 (40,965 ) 31.30 Outstanding at end of year 10,688 $ 24.32 35,335 $ 31.09 60,876 $ 33.11 Options exercisable at year-end 0 $ NA 28,847 $ 33.11 60,876 $ 33.11 The fair value of each stock option award is estimated on the date of grant using a closed option valuation (Black-Scholes) model that uses the assumptions noted in the table below. Expected volatilities are based on historical volatilities on our common stock. Historical data is used to estimate stock option expense and post-vesting termination behavior. The expected term of stock options granted is based on historical data and represents the period of time that stock options granted are expected to be outstanding, which takes into account that the stock options are not transferable. The risk-free interest rate for the expected term of the stock option is based on the U.S. Treasury yield curve in effect at the time of the stock option grant. The fair value of stock options granted during 2015 and 2014 was determined using the following weighted-average assumptions as of the grant date. No stock options were granted during 2013. 2015 2014 Risk-free interest rate 1.67 % 1.56 % Expected option life (Years) 5 5 Expected stock price volatility 29 % 26 % Dividend yield 2.5 % 2.5 % Options issued under various Mercantile plans outstanding at year-end 2015 were as follows: Outstanding Exercisable Weighted Average Weighted Weighted Range of Remaining Average Average Exercise Contractual Exercise Exercise Prices Number Life (Years) Price Number Price $20.01 - $24.00 6,488 5.9 $ 22.15 0 NA $24.01 - $28.00 4,200 6.9 27.66 0 NA Outstanding at year end 10,688 6.3 $ 24.32 0 NA Information related to options issued under various Mercantile plans outstanding at year-end 2015, 2014 and 2013 is as follows: 2015 2014 2013 Minimum exercise price $ 22.15 $ 6.21 $ 6.21 Maximum exercise price 27.66 35.88 40.28 Average remaining option term (Years) 6.3 2.0 1.4 Information related to stock option grants and exercises issued under various Mercantile plans during 2015, 2014 and 2013 is as follows: 2015 2014 2013 Aggregate intrinsic value of stock options exercised $ 36,000 $ 11,000 $ 408,000 Cash received from stock option exercises 17,000 50,000 289,000 Tax benefit realized from stock option exercises 0 0 0 Weighted average per share fair value of stock options granted $ 4.41 2.72 NA The aggregate intrinsic value of all stock options issued under various Mercantile plans outstanding and exercisable at December 31, 2015 was $0. Shares issued as a result of the exercise of stock option grants have been authorized and were previously unissued shares. A summary of stock option activity from grants issued under various Firstbank plans that became part of Mercantile’s plans upon consummation of the merger on June 1, 2014 is as follows: 2015 2014 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Outstanding at beginning of year 217,982 $ 14.89 0 $ NA Granted 0 NA 0 NA Replaced as part of merger 0 NA 282,178 15.48 Exercised (56,417 ) 15.50 (27,740 ) 8.34 Forfeited or expired (37,678 ) 21.39 (36,456 ) 24.46 Outstanding at end of year 123,887 $ 12.64 217,982 $ 14.89 Options exercisable at year-end 123,887 $ 12.64 210,777 $ 15.22 Options issued under various Firstbank plans outstanding at year-end 2015 were as follows: Outstanding Exercisable Weighted Average Weighted Weighted Range of Remaining Average Average Exercise Contractual Exercise Exercise Prices Number Life (Years) Price Number Price $ 4.00 - $ 8.00 48,430 3.8 $ 6.58 48,430 $ 6.58 $ 8.01 - $12.00 18,550 3.9 8.60 18,550 8.60 $12.01 - $16.00 27,350 1.9 16.00 27,350 16.00 $20.01 - $24.00 29,557 0.9 22.00 29,557 22.00 Outstanding at year end 123,887 2.7 $ 12.64 123,887 $ 12.64 Information related to options issued under various Firstbank plans outstanding at year-end 2015 and 2014 is as follows: 2015 2014 Minimum exercise price $ 5.19 $ 5.19 Maximum exercise price 22.00 24.46 Average remaining option term (Years) 2.7 3.1 Information related to stock option grants and exercises issued under various Firstbank plans during 2015 and 2014 is as follows: 2015 2014 Aggregate intrinsic value of stock options exercised $ 420,000 $ 333,000 Cash received from stock option exercises 874,000 232,000 Tax benefit realized from stock option exercises 147,000 116,000 Weighted average per share fair value of stock options granted NA NA The aggregate intrinsic value of all stock options issued under various Firstbank plans outstanding and exercisable at December 31, 2015 was $1.5 million. Shares issued as a result of the exercise of stock option grants have been authorized and previously unissued shares. On January 2, 2015, we granted a total of 5,994 shares of common stock to our Corporate, Bank and Regional Advisory Boards of Directors for retainer payments for the period of January 1, 2015 through May 31, 2015. The associated $0.1 million cost was expensed on a straightline basis over the first five months of 2015. On May 28, 2015, we granted a total of 14,100 shares of common stock to our Corporate, Bank and Regional Advisory Boards of Directors for retainer payments for the period of June 1, 2015 through May 31, 2016. The associated $0.3 million cost is being expensed on a straightline basis over the respective twelve month period. |
Note 13 - Related Parties
Note 13 - Related Parties | 12 Months Ended |
Dec. 31, 2015 | |
Related Party Transactions [Abstract] | |
Related Party Transactions Disclosure [Text Block] | NOTE 13 – RELATED PARTIES Certain directors and executive officers of the Bank, including their immediate families and companies in which they are principal owners, were loan customers of the Bank. At year-end 2015 and 2014, the Bank had $14.0 million and $15.8 million in loan commitments to directors and executive officers, of which $11.2 million and $9.0 million were outstanding at year-end 2015 and 2014, respectively, as reflected in the following table. The line item entitled “Adjustments” primarily relates to Board member retirements in 2015 and the Firstbank merger in 2014. 2015 2014 Beginning balance $ 9,002,000 $ 6,884,000 New loans 3,371,000 781,000 Repayments (965,000 ) (381,000 ) Adjustments (257,000 ) 1,718,000 Ending balance $ 11,151,000 $ 9,002,000 Related party deposits and repurchase agreements totaled $18.5 million and $16.6 million at year-end 2015 and 2014, respectively. |
Note 14 - Commitments and Off-b
Note 14 - Commitments and Off-balance Sheet Risk | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block Supplement [Abstract] | |
Commitments Contingencies and Guarantees [Text Block] | NOTE 14 – COMMITMENTS AND OFF-BALANCE-SHEET RISK We are a party to financial instruments with off-balance sheet risk in the normal course of business to meet the financing needs of our customers. These financial instruments include commitments to extend credit and standby letters of credit. Loan commitments to extend credit are agreements to lend to a customer as long as there is no violation of any condition established in the contract. Standby letters of credit are conditional commitments issued by our Bank to guarantee the performance of a customer to a third party. Commitments generally have fixed expiration dates or other termination clauses and may require payment of a fee. Since many of the commitments are expected to expire without being drawn upon, the total commitment amounts do not necessarily represent future cash requirements. These instruments involve, to varying degrees, elements of credit risk in excess of the amount recognized, if any, in the balance sheet. Our maximum exposure to loan loss in the event of nonperformance by the other party to the financial instrument for commitments to extend credit and standby letters of credit is represented by the contractual notional amount of those instruments. We use the same credit policies in making commitments and conditional obligations as we do for on-balance sheet instruments. Collateral, such as accounts receivable, securities, inventory, and property and equipment, is generally obtained based on management’s credit assessment of the borrower. If required, estimated loss exposure resulting from these instruments is expensed and recorded as a liability. There was no liability balance for these instruments as of December 31, 2015 and 2014. At year-end 2015 and 2014, the rates on existing off-balance sheet instruments were substantially equivalent to current market rates, considering the underlying credit standing of the counterparties. Our maximum exposure to credit losses for loan commitments and standby letters of credit outstanding at year-end was as follows: 2015 2014 Commercial unused lines of credit $ 522,658,000 $ 554,856,000 Unused lines of credit secured by 1 – 4 family residential properties 61,905,000 60,983,000 Credit card unused lines of credit 15,612,000 11,649,000 Other consumer unused lines of credit 8,583,000 8,673,000 Commitments to make loans 178,034,000 110,126,000 Standby letters of credit 34,946,000 35,461,000 Total commitments $ 821,738,000 $ 781,748,000 Commitments to make loans generally reflect our binding obligations to existing and prospective customers to extend credit, including line of credit facilities secured by accounts receivable and inventory, and term debt secured by either real estate or equipment. In most instances, line of credit facilities are for a one-year term and are at a floating rate tied to the Wall Street Journal Prime Rate or the 30-Day Libor rate. For term debt secured by real estate, customers are generally offered a floating rate tied to the Wall Street Journal Prime Rate or the 30-Day Libor rate, and a fixed rate currently ranging from 4.00% to 7.00%. These credit facilities generally balloon within five years, with payments based on amortizations ranging from 10 to 20 years. For term debt secured by non-real estate collateral, customers are generally offered a floating rate tied to the Wall Street Journal Prime Rate or the 30-Day Libor rate, and a fixed rate currently ranging from 4.00% to 7.50%. These credit facilities generally mature and fully amortize within three to seven years. Certain of our commercial loan customers have entered into interest rate swap agreements directly with our correspondent banks. To assist our commercial loan customers in these transactions, and to encourage our correspondent banks to enter into the interest rate swap transactions with minimal credit underwriting analyses on their part, we have entered into risk participation agreements with the correspondent banks whereby we agree to make payments to the correspondent banks owed by our commercial loan customers under the interest rate swap agreement in the event that our commercial loan customers do not make the payments. We are not a party to the interest rate swap agreements under these arrangements. As of December 31, 2015, the total notional amount of the underlying interest rate swap agreements was $14.7 million, with a net fair value from our commercial loan customers’ perspective of negative $2.3 million. These risk participation agreements are considered financial guarantees in accordance with applicable accounting guidance and are therefore recorded as liabilities at fair value, generally equal to the fees collected at the time of their execution. These liabilities are accreted into income during the terms of the interest rate swap agreements, generally ranging from an original term of four to fifteen years, and totaled less than $0.1 million at December 31, 2015 and December 31, 2014. The following instruments are considered financial guarantees under current accounting guidance. These instruments are carried at fair value. 2015 2014 Contract Carrying Contract Carrying Amount Value Amount Value Standby letters of credit $ 34,946,000 $ 182,000 $ 35,461,000 $ 150,000 We were required to have $9.1 million and $8.4 million of cash on hand or on deposit with the Federal Reserve Bank of Chicago to meet regulatory reserve and clearing requirements at December 31, 2015 and December 31, 2014, respectively. |
Note 15 - Benefit Plans
Note 15 - Benefit Plans | 12 Months Ended |
Dec. 31, 2015 | |
Compensation and Retirement Disclosure [Abstract] | |
Pension and Other Postretirement Benefits Disclosure [Text Block] | NOTE 15 – BENEFIT PLANS We have a 401(k) benefit plan that covers substantially all of our employees. The percent of our matching contributions to the 401(k) benefit plan is determined annually by the Board of Directors. The matching contribution was 4.00% as of January 1, 2013. Effective January 1, 2014, the matching contribution was increased to 4.25%. Matching contributions, if made, are immediately vested. Our 2015, 2014 and 2013 matching 401(k) contributions charged to expense were $1.2 million, $0.9 million and $0.5 million, respectively. We have a deferred compensation plan in which all persons serving on the Board of Directors may defer all or portions of their annual retainer and meeting fees, with distributions to be paid upon termination of service as a director or specific dates selected by the director. We also have a non-qualified deferred compensation program in which selected officers may defer all or portions of salary and bonus payments. The deferred amounts, totaling $3.9 million and $3.7 million as of December 31, 2015 and 2014, respectively, are categorized as other liabilities in the Consolidated Balance Sheets, and are paid interest at a rate equal to the Wall Street Journal Prime Rate. Interest expense was less than $0.1 million per year during the last three years. The Mercantile Bank Corporation Employee Stock Purchase Plan of 2002 was replaced by the Mercantile Bank Corporation Employee Stock Purchase Plan of 2014 (herein after referred to as the “Stock Purchase Plans”) in June of 2014. The Stock Purchase Plans are non-compensatory plans intended to encourage full- and part-time employees of Mercantile and its subsidiaries to promote our best interests and to align employees’ interests with the interests of our shareholders by permitting employees to purchase shares of our common stock through regular payroll deductions. Shares are purchased on the last business day of each calendar quarter at a price equal to the consolidated closing bid price of our common stock reported on The Nasdaq Stock Market. A total of 250,000 shares of common stock may be issued under the existing plan; however, the number of shares may be adjusted to reflect any stock dividends and other changes in our capitalization. The number of shares issued under the Stock Purchase Plans totaled 2,058 and 1,150 in 2015 and 2014, respectively. As of December 31, 2015, there were 246,800 shares available under our current plan. |
Note 16 - Hedging Activities
Note 16 - Hedging Activities | 12 Months Ended |
Dec. 31, 2015 | |
Derivative Instruments and Hedging Activities Disclosure [Abstract] | |
Derivative Instruments and Hedging Activities Disclosure [Text Block] | NOTE 16 – HEDGING ACTIVITIES Our interest rate risk policy includes guidelines for measuring and monitoring interest rate risk. Within these guidelines, parameters have been established for maximum fluctuations in net interest income. Possible fluctuations are measured and monitored using net interest income simulation. Our policy provides for the use of certain derivative instruments and hedging activities to aid in managing interest rate risk to within policy parameters. In February 2012, we entered into an interest rate swap agreement with a correspondent bank to hedge the floating rate on the subordinated debentures issued to Mercantile Bank Capital Trust I, which became effective in January 2013 and matures in January 2018. The $32.0 million of subordinated debentures have a rate equal to the 90-Day Libor Rate plus a fixed spread of 218 basis points, and are subject to repricing quarterly. The interest rate swap agreement provides for us to pay our correspondent bank a fixed rate, while our correspondent bank will pay us the 90-Day Libor Rate on a $32.0 million notional amount. The quarterly re-set dates for the floating rate on the interest rate swap agreement are the same as the re-set dates for the floating rate on the subordinated debentures. The interest rate swap agreement is accounted for under hedge accounting guidelines; therefore, fluctuations in the fair value of the interest rate swap agreement, net of tax effect, are recorded in other comprehensive income. As of December 31, 2015 and 2014, the fair value of the interest rate swap agreement was recorded as a liability in the amount of $0.3 million. Effective January 26, 2016, the notional amount of the interest rate swap agreement was reduced from $32.0 million down to $21.0 million, reflecting the $11.0 million repurchase of the associated trust preferred securities on that date. We recorded interest expense of approximately $154,000 in January 2016 as part of the transaction, in large part reflecting the market value of the interest rate swap on that date of the $11.0 million portion. |
Note 17 - Fair Values of Financ
Note 17 - Fair Values of Financial Instruments | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value Disclosures [Text Block] | NOTE 17 – FAIR VALUES OF FINANCIAL INSTRUMENTS Carrying amount, estimated fair value and level within the fair value hierarchy of financial instruments were as follows at year-end (dollars in thousands): Level in 2015 2014 Fair Value Carrying Fair Carrying Fair Hierarchy Amount Value Amount Value Financial assets Cash Level 1 $ 12,496 $ 12,496 $ 13,261 $ 13,261 Cash equivalents Level 2 77,395 77,395 159,477 159,477 Securities available for sale (1) 346,992 346,992 432,912 432,912 Federal Home Loan Bank stock (2) 7,567 7,567 13,699 13,699 Loans, net Level 3 2,262,046 2,261,026 2,069,236 2,064,140 Bank owned life insurance Level 2 58,971 58,971 57,861 57,861 Accrued interest receivable Level 2 7,836 7,836 8,033 8,033 Financial liabilities Deposits Level 2 2,275,382 2,208,724 2,276,915 2,254,749 Securities sold under agreements to repurchase Level 2 154,771 154,771 167,569 167,569 Federal Home Loan Bank advances Level 2 68,000 68,858 54,022 54,720 Subordinated debentures Level 2 55,154 55,760 54,472 54,508 Accrued interest payable Level 2 1,479 1,479 1,942 1,942 Interest rate swap (1) 253 253 253 253 (1) See Note 18 for a description of the fair value hierarchy as well as a disclosure of levels for classes of financial assets and liabilities. (2) It is not practical to determine the fair value of FHLBI stock due to transferability restrictions. Carrying amount is the estimated fair value for cash and cash equivalents, FHLBI stock, accrued interest receivable and payable, bank owned life insurance, demand deposits, securities sold under agreements to repurchase, and variable rate loans and deposits that reprice frequently and fully. Security fair values are based on market prices or dealer quotes, and if no such information is available, on the rate and term of the security and information about the issuer. For fixed rate loans and deposits and for variable rate loans and deposits with infrequent repricing or repricing limits, fair value is based on discounted cash flows using current market rates applied to the estimated life and credit risk. Fair value of subordinated debentures and Federal Home Loan Bank advances is based on current rates for similar financing. Fair value of the interest rate swap is determined primarily utilizing market-consensus forecasted yield curves. Fair value of off-balance sheet items is estimated to be nominal. |
Note 18 - Fair Values Measureme
Note 18 - Fair Values Measurements | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Fair Value, Measurement Inputs, Disclosure [Text Block] | NOTE 18 – FAIR VALUE MEASUREMENTS Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. A fair value measurement assumes that the transaction to sell the asset or transfer the liability occurs in the principal market for the asset or liability, or in the absence of a principal market, the most advantageous market for the asset or liability. The price of the principal (or most advantageous) market used to measure the fair value of the asset or liability is not adjusted for transaction costs. An orderly transaction is a transaction that assumes exposure to the market for a period prior to the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets and liabilities; it is not a forced transaction. Market participants are buyers and sellers in the principal market that are (i) independent, (ii) knowledgeable, (iii) able to transact and (iv) willing to transact. We are required to use valuation techniques that are consistent with the market approach, the income approach and/or the cost approach. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable assets and liabilities. The income approach uses valuation techniques to convert future amounts, such as cash flows or earnings, to a single present amount on a discounted basis. The cost approach is based on the amount that currently would be required to replace the service capacity of an asset (replacement cost). Valuation techniques should be consistently applied. Inputs to valuation techniques refer to the assumptions that market participants would use in pricing the asset or liability. Inputs may be observable, meaning those that reflect the assumptions market participants would use in pricing the asset or liability developed based on market data obtained from independent sources, or unobservable, meaning those that reflect our own estimates about the assumptions market participants would use in pricing the asset or liability based on the best information available in the circumstances. In that regard, we utilize a fair value hierarchy for valuation inputs that gives the highest priority to quoted prices in active markets for identical assets or liabilities and the lowest priority to unobservable inputs. The fair value hierarchy is as follows: Level 1: Quoted prices (unadjusted) for identical assets or liabilities in active markets that we have the ability to access as of the measurement date. Level 2: Significant other observable inputs other than Level 1 prices such as quoted prices for similar assets or liabilities in active markets; quoted prices for identical or similar assets or liabilities in markets that are not active; or other inputs that are observable or can be derived from or corroborated by observable market data by correlation or other means. Level 3: Significant unobservable inputs that reflect our own estimates about the assumptions that market participants would use in pricing an asset or liability. The following is a description of our valuation methodologies used to measure and disclose the fair values of our financial assets and liabilities on a recurring or nonrecurring basis: Securities available for sale. Mortgage loans held for sale. Loans. Foreclosed assets. Derivatives. Assets and Liabilities Measured at Fair Value on a Recurring Basi The balances of assets and liabilities measured at fair value on a recurring basis as of December 31, 2015 are as follows: Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Available for sale securities U.S. Government agency debt obligations $ 147,040,000 $ 0 $ 147,040,000 $ 0 Mortgage-backed securities 67,074,000 0 67,074,000 0 Municipal general obligation bonds 122,023,000 0 113,604,000 8,419,000 Municipal revenue bonds 8,914,000 0 8,914,000 0 Other investments 1,941,000 0 1,941,000 0 Derivatives Interest rate swap agreement (253,000 ) 0 (253,000 ) 0 Total $ 346,739,000 $ 0 $ 338,320,000 $ 8,419,000 There were no transfers in or out of Level 1, Level 2 or Level 3 during 2015. The balances of assets and liabilities measured at fair value on a recurring basis as of December 31, 2014 are as follows: Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Available for sale securities U.S. Government agency debt obligations $ 193,468,000 $ 0 $ 193,468,000 $ 0 Mortgage-backed securities 93,561,000 0 93,561,000 0 Municipal general obligation bonds 133,082,000 0 122,801,000 10,281,000 Municipal revenue bonds 10,873,000 0 10,873,000 0 Mutual funds 1,928,000 0 1,928,000 0 Derivatives Interest rate swap agreement (253,000 ) 0 (253,000 ) 0 Total $ 432,659,000 $ 0 $ 422,378,000 $ 10,281,000 There were no transfers in or out of Level 1, Level 2 or Level 3 during 2014. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis The balances of assets and liabilities measured at fair value on a nonrecurring basis as of December 31, 2015 are as follows: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs Total (Level 1) (Level 2) (Level 3) Impaired loans (1) $ 8,970,000 $ 0 $ 0 $ 8,970,000 Foreclosed assets (1) 1,293,000 0 0 1,293,000 Total $ 10,263,000 $ 0 $ 0 $ 10,263,000 (1) The balances of assets and liabilities measured at fair value on a nonrecurring basis as of December 31, 2014 are as follows: Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs Total (Level 1) (Level 2) (Level 3) Impaired loans (1) $ 17,097,000 $ 0 $ 0 $ 17,097,000 Foreclosed assets (1) 1,995,000 0 0 1,995,000 Total $ 19,092,000 $ 0 $ 0 $ 19,092,000 (1) Fair value estimates of collateral on impaired loans, as well as on foreclosed assets, are reviewed periodically. Our credit policies establish criteria for obtaining appraisals and determining internal value estimates. We may also adjust outside appraisals and internal evaluations based on identifiable trends within our markets, such as sales of similar properties or assets, listing prices and offers received. In addition, we may discount certain appraised and internal value estimates to address current distressed market conditions. |
Note 19 - Earnings Per Share
Note 19 - Earnings Per Share | 12 Months Ended |
Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |
Earnings Per Share [Text Block] | NOTE 1 9 – EARNINGS PER SHARE The factors used in the earnings per share computation follow: 2015 2014 2013 Basic Net income attributable to common shares $ 27,020,000 $ 17,331,000 $ 17,033,000 Weighted average common shares outstanding 16,609,263 13,510,991 8,710,677 Basic earnings per common share $ 1.63 $ 1.28 $ 1.96 Diluted Net income attributable to common shares $ 27,020,000 $ 17,331,000 $ 17,033,000 Weighted average common shares outstanding for basic earnings per common share 16,609,263 13,510,991 8,710,677 Add: Dilutive effects of share-based awards 32,877 30,913 14,031 Average shares and dilutive potential common shares 16,642,140 13,541,904 8,724,708 Diluted earnings per common share $ 1.62 $ 1.28 $ 1.95 Stock options for approximately 40,000, 168,000 and 55,000 shares of common stock were antidilutive and were not included in determining dilutive earnings per share in 2015, 2014 and 2013, respectively. |
Note 20 - Subordinated Debentur
Note 20 - Subordinated Debentures | 12 Months Ended |
Dec. 31, 2015 | |
Subordinated Borrowings [Abstract] | |
Subordinated Borrowings Disclosure [Text Block] | NOTE 20 – SUBORDINATED DEBENTURES We have five business trusts that are wholly-owned subsidiaries of Mercantile, four of which were assumed by Mercantile in conjunction with the Firstbank merger. A fair value discount of $15.0 million was recorded at the time of the merger, which is being amortized at $0.7 million annually over the next 21.5 years. Each of the trusts was formed to issue Preferred Securities that were sold in private sales, as well as selling Common Securities to Mercantile. The proceeds from the Preferred and Common Securities sales were used by the trusts to purchase Floating Rate Notes issued by Mercantile. The rates of interest, interest payment dates, call features and maturity dates of each Floating Rate Note are identical to its respective Preferred Securities. The net proceeds from the issuance of the Floating Rate Notes were used for a variety of purposes, including contributions to the Bank as capital to provide support for asset growth and the funding of stock repurchase programs and certain acquisitions. The only significant assets of our trusts are the Floating Rate Notes, and the only significant liabilities of our trusts are the Preferred Securities. The Floating Rate Notes are categorized on our Consolidated Balance Sheets as subordinated debentures and the interest expense is recorded on our Consolidated Statements of Income under interest expense on other borrowings. The following table depicts our five business trusts as of December 31, 2015: Preferred Securities Trust Name Outstanding Interest Rate Maturity Date Mercantile Bank Capital Trust I $32,000,000 3 Month Libor + 218 bps September 16, 2034 Firstbank Capital Trust I $10,000,000 3 Month Libor + 199 bps October 18, 2034 Firstbank Capital Trust II $10,000,000 3 Month Libor + 127 bps April 7, 2036 Firstbank Capital Trust III $7,500,000 3 Month Libor + 135 bps July 30, 2037 Firstbank Capital Trust IV $7,500,000 3 Month Libor + 135 bps July 30, 2037 On January 26, 2016, we closed on a repurchase of trust preferred securities that were auctioned as part of a pooled collateralized debt obligation (“Fund”). The Fund owned $11.0 million of the $32.0 million in trust preferred securities that had been issued by Mercantile Bank Capital Trust I. The $11.0 million in trust preferred securities was retired upon the repurchase, resulting in a commensurate reduction in the related Floating Rate Junior Subordinate Note, leaving $21.0 million outstanding. |
Note 21 - Regulatory Matters
Note 21 - Regulatory Matters | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Regulatory Capital Requirements under Banking Regulations [Text Block] | NOTE 21 - REGULATORY MATTERS We are subject to regulatory capital requirements administered by federal banking agencies. Capital adequacy guidelines and prompt corrective action regulations involve quantitative measures of assets, liabilities, and certain off-balance sheet items calculated under regulatory accounting practices. Capital amounts and classifications are also subject to qualitative judgments by regulators about components, risk weightings, and other factors, and the regulators can lower classifications in certain cases. Failure to meet various capital requirements can initiate regulatory action that could have a direct material effect on the financial statements. The prompt corrective action regulations provide five classifications, including well capitalized, adequately capitalized, undercapitalized, significantly undercapitalized, and critically undercapitalized, although these terms are not used to represent overall financial condition. If an institution is not well capitalized, regulatory approval is required to accept brokered deposits. Subject to limited exceptions, no institution may make a capital distribution if, after making the distribution, it would be undercapitalized. If an institution is undercapitalized, it is subject to close monitoring by its principal federal regulator, its asset growth and expansion are restricted, and plans for capital restoration are required. In addition, further specific types of restrictions may be imposed on the institution at the discretion of the federal regulator. At year-end 2015 and 2014, our Bank was in the well capitalized category under the regulatory framework for prompt corrective action. There are no conditions or events since December 31, 2015 that we believe have changed our Bank’s categorization. Our actual capital levels (dollars in thousands) and minimum required levels were: Actual Minimum Required for Capital Adequacy Purposes Minimum Required to be Well Capitalized Under Prompt Corrective Action Regulations Amount Ratio Amount Ratio Amount Ratio 2015 Total capital (to risk weighted assets) Consolidated $ 345,539 13.5 % $ 205,602 8.0 % $ NA NA Bank 347,433 13.5 205,624 8.0 257,030 10.0 % Tier 1 capital (to risk weighted assets) Consolidated 329,858 12.8 102,801 4.0 NA NA Bank 331,752 12.9 102,812 4.0 154,218 6.0 Common equity (to risk weighted assets) Consolidated 280,171 10.9 115,804 4.5 NA NA Bank 331,752 12.9 115,664 4.5 167,070 6.5 Tier 1 capital (to average assets) Consolidated 329,858 11.6 114,138 4.0 NA NA Bank 331,752 11.6 114,280 4.0 142,850 5.0 2014 Total capital (to risk weighted assets) Consolidated $ 334,793 14.4 % $ 185,553 8.0 % $ NA NA Bank 332,749 14.4 185,309 8.0 231,636 10.0 % Tier 1 capital (to risk weighted assets) Consolidated 314,752 13.6 92,777 4.0 NA NA Bank 312,708 13.5 92,655 4.0 138,982 6.0 Tier 1 capital (to average assets) Consolidated 314,752 11.2 112,949 4.0 NA NA Bank 312,708 11.1 112,856 4.0 141,070 5.0 Federal and state banking laws and regulations place certain restrictions on the amount of dividends our Bank can transfer to Mercantile and on the capital levels that must be maintained. At year-end 2015, under the most restrictive of these regulations, our Bank could distribute approximately $66.3 million to Mercantile as dividends without prior regulatory approval. Our and our bank’s ability to pay cash and stock dividends is subject to limitations under various laws and regulations and to prudent and sound banking practices. On January 15, 2015, our Board of Directors declared a cash dividend on our common stock in the amount of $0.14 per share that was paid on March 25, 2015 to shareholders of record as of March 13, 2015. On April 16, 2015, our Board of Directors declared a cash dividend on our common stock in the amount of $0.14 per share that was paid on June 24, 2015 to shareholders of record as of June 12, 2015. On July 16, 2015, our Board of Directors declared a cash dividend on our common stock in the amount of $0.15 per share that was paid on September 23, 2015 to shareholders of record as of September 11, 2015. On October 15, 2015, our Board of Directors declared a cash dividend on our common stock in the amount of $0.15 per share that was paid on December 23, 2015 to shareholders of record as of December 11, 2015. In addition, on January 30, 2015, we announced that our Board of Directors had authorized a new program to repurchase up to $20.0 million of our common stock from time to time in open market transactions at prevailing market prices or by other means in accordance with applicable regulations. During 2015, we repurchased 788,541 shares at a total price of $15.8 million, which was funded from cash dividends paid to us from our Bank. We expect further repurchases during 2016 under the authorized plan, which will also likely be funded from cash dividends paid to us from our Bank. On January 14, 2016, our Board of Directors declared a cash dividend on our common stock in the amount of $0.16 per share that will be paid on March 23, 2016 to shareholders of record as of March 11, 2016. Our consolidated capital levels as of December 31, 2015 and 2014 include $53.1 million and $52.4 million, respectively, of trust preferred securities subject to certain limitations. Under applicable Federal Reserve guidelines, the trust preferred securities constitute a restricted core capital element. The guidelines provide that the aggregate amount of restricted core elements that may be included in Tier 1 capital must not exceed 25% of the sum of all core capital elements, including restricted core capital elements, net of goodwill less any associated deferred tax liability. Our ability to include the trust preferred securities in Tier 1 capital in accordance with the guidelines is not affected by the provision of the Dodd-Frank Act generally restricting such treatment, because (i) the trust preferred securities were issued before May 19, 2010, and (ii) our total consolidated assets as of December 31, 2009 were less than $15.0 billion. At December 31, 2015 and 2014, all $53.1 million and $52.4 million, respectively, of the trust preferred securities were included as Tier 1 capital of Mercantile. On January 26, 2016, we closed on a repurchase of trust preferred securities that were auctioned as part of a pooled collateralized debt obligation (“Fund”). The Fund owned $11.0 million of the $32.0 million in trust preferred securities that had been issued by Mercantile Bank Capital Trust I, a wholly-owned business trust subsidiary. The $11.0 million in trust preferred securities was retired upon the repurchase, resulting in a commensurate reduction in the related Floating Rate Junior Subordinate Note, leaving $21.0 million outstanding. Our winning bid equated to 73% of the $11.0 million par value, with the 27% discount resulting in an after-tax gain of approximately $1.8 million, or $0.11 per diluted share. On a pro forma basis as of December 31, 2015, the repurchase resulted in a nine basis point increase in our tangible equity to tangible assets ratio and an $0.11 increase in our tangible book value per share, but an approximately 35 basis point decline in our regulatory tier 1 capital and total risk-based capital ratios. The repurchase was funded via a $9.1 million cash dividend from our Bank, resulting in a similar approximately 35 basis point decline in the regulatory capital ratios. Subsequent to the repurchase, our and our Bank’s regulatory capital ratios remained well above the minimum thresholds to be categorized as well capitalized. |
Note 22 - Accumulated Other Com
Note 22 - Accumulated Other Comprehensive Income (Loss) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Comprehensive Income (Loss) Note [Text Block] | NO TE 22 – ACCUMULATED OTHER COMPREHENSIVE INCOME (LOSS) At December 31, 2015, accumulated other comprehensive income, net of tax effects (as applicable), consisted of a net unrealized gain on available for sale securities of $1.4 million and the fair value of an interest rate swap of negative $0.2 million. At December 31, 2014, accumulated other comprehensive income, net of tax effects (as applicable), consisted of a net unrealized gain on available for sale securities of $0.2 million and the fair value of an interest rate swap of negative $0.2 million. At December 31, 2013, accumulated other comprehensive loss, net of tax effects (as applicable), consisted of a net unrealized loss on available for sale securities of $5.4 million and the fair value of an interest rate swap of negative $0.2 million. |
Note 23 - Quarterly Financial D
Note 23 - Quarterly Financial Data (Unaudited) | 12 Months Ended |
Dec. 31, 2015 | |
Quarterly Financial Information Disclosure [Abstract] | |
Quarterly Financial Information [Text Block] | NOTE 23 - QUARTERLY FINANCIAL DATA (Unaudited) Interest Net Interest Net Earnings per Share Income Income Income Basic Diluted 2015 First quarter $ 27,589,000 $ 24,849,000 $ 6,646,000 $ 0.39 $ 0.39 Second quarter 27,663,000 25,041,000 6,558,000 0.39 0.39 Third quarter 28,501,000 25,625,000 7,336,000 0.45 0.45 Fourth quarter 28,575,000 25,659,000 6,480,000 0.40 0.40 2014 First quarter $ 13,588,000 $ 11,064,000 $ 3,580,000 $ 0.41 $ 0.41 Second quarter 18,483,000 15,552,000 1,510,000 0.13 0.13 Third quarter 28,900,000 25,989,000 5,948,000 0.35 0.35 Fourth quarter 28,147,000 25,173,000 6,293,000 0.37 0.37 |
Note 24 - Mercantile Bank Corpo
Note 24 - Mercantile Bank Corporation (Parent Company Only) Condensed Financial Statements | 12 Months Ended |
Dec. 31, 2015 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Financial Information of Parent Company Only Disclosure [Text Block] | NOTE 2 4 – MERCANTILE BANK CORPORATION (PARENT COMPANY ONLY) CONDENSED FINANCIAL STATEMENTS CONDENSED BALANCE SHEETS 2015 2014 ASSETS Cash and cash equivalents $ 4,940,000 $ 1,441,000 Investment in bank subsidiary 368,248,000 361,355,000 Other assets 20,940,000 20,948,000 Total assets $ 394,128,000 $ 383,744,000 LIABILITIES AND SHAREHOLDERS’ EQUITY Liabilities $ 5,170,000 $ 1,134,000 Subordinated debentures 55,154,000 54,472,000 Shareholders’ equity 333,804,000 328,138,000 Total liabilities and shareholders’ equity $ 394,128,000 $ 383,744,000 CONDENSED STATEMENTS OF INCOME 2015 2014 2013 Income Interest and dividends from subsidiaries $ 24,166,000 $ 12,139,000 $ 5,516,000 Total income 24,166,000 12,139,000 5,516,000 Expenses Interest expense 2,569,000 2,145,000 1,213,000 Other operating expenses 2,276,000 3,552,000 2,773,000 Total expenses 4,845,000 5,697,000 3,986,000 Income before income tax benefit and equity in undistributed net income of subsidiary 19,321,000 6,442,000 1,530,000 Federal income tax benefit (2,051,000 ) (1,758,000 ) (1,042,000 ) Equity in undistributed net income of subsidiary 5,648,000 9,131,000 14,461,000 Net income $ 27,020,000 $ 17,331,000 $ 17,033,000 Comprehensive income $ 28,267,000 $ 22,920,000 $ 9,810,000 CONDENSED STATEMENTS OF CASH FLOWS 2015 2014 2013 Cash flows from operating activities Net income $ 27,020,000 $ 17,331,000 $ 17,033,000 Adjustments to reconcile net income to net cash from operating activities: Equity in undistributed net income of subsidiary (5,648,000 ) (9,131,000 ) (14,461,000 ) Stock-based compensation expense 684,000 714,000 473,000 Stock grants to directors for retainer fees 403,000 155,000 0 Change in other assets 11,000 (8,163,000 ) 3,244,000 Change in other liabilities 4,717,000 21,979,000 (708,000 ) Net cash from operating activities 27,187,000 22,885,000 5,581,000 Cash flows from investing activities Net capital investment into subsidiaries 0 0 0 Net cash for investing activities 0 0 0 Cash flows from financing activities Stock option exercises, net of cashless exercises 891,000 282,000 289,000 Employee stock purchase plan 44,000 23,000 19,000 Dividend reinvestment plan 655,000 209,000 33,000 Repurchase of common shares (15,762,000 ) 0 0 Cash dividends on common stock (9,516,000 ) (24,464,000 ) (3,889,000 ) Net cash for financing activities (23,688,000 ) (23,950,000 ) (3,548,000 ) Net change in cash and cash equivalents 3,499,000 (1,065,000 ) 2,033,000 Cash and cash equivalents at beginning of period 1,441,000 2,506,000 473,000 Cash and cash equivalents at end of period $ 4,940,000 $ 1,441,000 $ 2,506,000 |
Accounting Policies, by Policy
Accounting Policies, by Policy (Policies) | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Consolidation, Policy [Policy Text Block] | Principles of Consolidation We have five separate business trusts: Mercantile Bank Capital Trust I, Firstbank Capital Trust I, Firstbank Capital Trust II, Firstbank Capital Trust III and Firstbank Capital Trust IV (“our trusts”). Our trusts were formed to issue trust preferred securities. We issued subordinated debentures to our trusts in return for the proceeds raised from the issuance of the trust preferred securities. Our trusts are not consolidated, but instead we report the subordinated debentures issued to the trusts as liabilities. |
Nature of Operation [Policy Text Block] | Nature of Operations The Bank is a community-based financial institution. The Bank’s primary deposit products are checking, savings, and term certificate accounts, and its primary lending products are commercial loans, residential mortgage loans, and instalment loans. Substantially all loans are secured by specific items of collateral including business assets, real estate or consumer assets. Commercial loans are expected to be repaid from cash flow from operations of businesses. Real estate loans are secured by commercial or residential real estate. The Bank’s loan accounts and retail deposits are primarily with customers located in the communities in which we have bank office locations. As an alternative source of funds, the Bank has also issued certificates of deposit to depositors outside of its primary market areas. Substantially all revenues are derived from banking products and services and investment securities. While we monitor the revenue streams of the various products and services offered, we manage our business on the basis of one operating segment, banking. Mercantile Insurance was formed during 2002 through the acquisition of an existing shelf insurance agency. Insurance products are offered through an Agency and Institutions Agreement among Mercantile Insurance, the Bank and Hub International. The insurance products are marketed through a central facility operated by the Michigan Bankers Insurance Association, members of which include the insurance subsidiaries of various Michigan-based financial institutions and Hub International. Mercantile Insurance receives commissions based upon written premiums produced under the Agency and Institutions Agreement. Mercantile Real Estate was organized on July 21, 2003, principally to develop, construct, and own a facility in downtown Grand Rapids that serves as our Bank’s main office and Mercantile’s headquarters. This facility was placed into service during the second quarter of 2005. |
Use of Estimates, Policy [Policy Text Block] | Use of Estimates |
Cash and Cash Equivalents, Policy [Policy Text Block] | Cash Flow Reporting |
Marketable Securities, Policy [Policy Text Block] | Securities Interest income includes amortization of purchase premiums and accretion of discounts. Premiums and discounts on securities are amortized or accreted on the level-yield method without anticipating prepayments, except for mortgage-backed securities where prepayments are anticipated. Gains and losses on sales are recorded on the trade date and determined using the specific identification method. Declines in the fair value of debt securities below their amortized cost that are other than temporary (“OTTI”) are reflected in earnings or other comprehensive income, as appropriate. For those debt securities whose fair value is less than their amortized cost, we consider our intent to sell the security, whether it is more likely than not that we will be required to sell the security before recovery and whether we expect to recover the entire amortized cost of the security based on our assessment of the issuer’s financial condition. In analyzing an issuer’s financial condition, we consider whether the securities are issued by the federal government or its agencies, and whether downgrades by bond rating agencies have occurred. If either of the criteria regarding intent or requirement to sell is met, the entire difference between amortized cost and fair value is recognized as impairment through earnings. For debt securities that do not meet the aforementioned criteria, the amount of impairment is split into two components as follows: 1) OTTI related to credit loss, which must be recognized in the income statement, and 2) OTTI related to other factors, such as liquidity conditions in the market or changes in market interest rates, which is recognized in other comprehensive income. The credit loss is defined as the difference between the present value of the cash flows expected to be collected and the amortized cost. |
Finance, Loan and Lease Receivables, Held-for-investment, Policy [Policy Text Block] | Loans Interest income on commercial loans and mortgage loans is discontinued at the time the loan is 90 days delinquent unless the loan is well-secured and in process of collection. Consumer and credit card loans are typically charged off no later than when they are 120 days past due. Past due status is based on the contractual terms of the loan. In all cases, loans are placed on nonaccrual or charged off at an earlier date if collection of principal and interest is considered doubtful. All interest accrued but not received for loans placed on nonaccrual is reversed against interest income. Interest received on such loans is accounted for on the cash-basis or cost-recovery method, until qualifying for return to accrual. Loans are returned to accrual status when all the principal and interest amounts contractually due are brought current and future payments are reasonably assured. |
Finance, Loan and Lease Receivables, Held-for-sale, Policy [Policy Text Block] | Loans Held for Sale Year-end mortgage loans held for sale, included in total loans in the balance sheet, were as follows: 2015 2014 Mortgage loans held for sale $ 1,316,000 $ 1,574,000 Less: Allowance to adjust to lower of cost or market 0 0 Mortgage loans held for sale, net $ 1,316,000 $ 1,574,000 |
Mortgage Loan Derivatives, Policy [Policy Text Block] | Mortgage Loan Derivatives |
Loans and Leases Receivable, Mortgage Banking Activities, Policy [Policy Text Block] | Mortgage Banking Activities Servicing fee income is recorded for fees earned for servicing mortgage loans. The fees are based on a contractual percentage of the outstanding principal or a fixed amount per loan and are recorded as income when earned. Amortization of mortgage loan servicing rights is netted against mortgage loan servicing income and recorded in mortgage banking activities in the income statement. |
Loans and Leases Receivable, Troubled Debt Restructuring Policy [Policy Text Block] | Troubled Debt Restructurings Loans modified as troubled debt restructurings are, by definition, considered to be impaired loans. Impairment for these loans is measured on a loan-by-loan basis similar to other impaired loans as described below under “Allowance for Loan Losses.” Certain loans modified as troubled debt restructurings may have been previously measured for impairment under a general allowance methodology (i.e., pooling), thus at the time the loan is modified as a troubled debt restructuring the allowance will be impacted by the difference between the results of these two measurement methodologies. Loans modified as troubled debt restructurings that subsequently default are factored into the determination of the allowance for loan losses in the same manner as other defaulted loans. |
Loans and Leases Receivable, Allowance for Loan Losses Policy [Policy Text Block] | Allowance for Loan Losses A loan is considered impaired when, based on current information and events, it is probable we will be unable to collect the scheduled payments of principal and interest when due according to the contractual terms of the loan agreement. Factors considered in determining impairment include payment status and collateral value. Loans that experience insignificant payment delays and payment shortfalls generally are not classified as impaired. We determine the significance of payment delays and payment shortfalls on a case-by-case basis, taking into consideration all of the circumstances surrounding the loan and the borrower, including the length of delay, the reasons for delay, the borrower’s prior payment record and the amount of the shortfall in relation to the principal and interest owed. Impairment is measured on a loan-by-loan basis for commercial and construction loans by the present value of expected future cash flows discounted at the loan’s effective interest rate, the loan’s obtainable market price or the fair value of collateral if the loan is collateral dependent. Large groups of smaller balance homogeneous loans are collectively evaluated for impairment. |
Transfers and Servicing of Financial Assets, Policy [Policy Text Block] | Transfers of Financial Assets |
Property, Plant and Equipment, Policy [Policy Text Block] | Premises and Equipment |
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block] | Long-lived Assets |
Finance, Loan and Lease Receivables, Held for Investments, Foreclosed Assets Policy [Policy Text Block] | Foreclosed Assets: |
Bank Owned Life Insurance, Policy [Policy Text Block] | Bank Owned Life Insurance: |
Goodwill and Intangible Assets, Policy [Policy Text Block] | Goodwill and Core Deposit Intangible The core deposit intangible that arose from the merger with Firstbank was initially measured at fair value and is being amortized into noninterest expense over a ten-year period using the sum-of-the-years-digits methodology. |
Repurchase and Resale Agreements Policy [Policy Text Block] | Repurchase Agreements |
Off-Balance-Sheet Credit Exposure, Policy [Policy Text Block] | Financial Instruments and Loan Commitments |
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block] | Stock-Based Compensation: |
Advertising Cost, Policy, Expensed Advertising Cost [Policy Text Block] | Advertising Costs |
Income Tax, Policy [Policy Text Block] | Income Taxes |
Fair Value of Financial Instruments, Policy [Policy Text Block] | Fair Values of Financial Instruments |
Earnings Per Share, Policy [Policy Text Block] | Earnings Per Share |
Comprehensive Income, Policy [Policy Text Block] | Comprehensive Income |
Derivatives, Policy [Policy Text Block] | Derivatives Changes in the fair value of derivatives that are designated, for accounting purposes, as a hedge of the variability of cash flows to be received on various assets and liabilities and are effective are reported in other comprehensive income. They are later reclassified into earnings in the same periods during which the hedged transaction affects earnings and are included in the line item in which the hedged cash flows are recorded. If hedge accounting does not apply, changes in the fair value of derivatives are recognized immediately in current earnings as interest income or expense. If designated as a hedge, we formally document the relationship between the derivative instrument and the hedged item, as well as the risk-management objective and the strategy for undertaking the hedge transaction. This documentation includes linking cash flow hedges to specific assets on the balance sheet. If designated as a hedge, we also formally assess, both at the hedge’s inception and on an ongoing basis, whether the derivative instrument that is used is highly effective in offsetting changes in cash flows of the hedged items. Ineffective hedge gains and losses are recognized immediately in current earnings as noninterest income or expense. We discontinue hedge accounting when we determine the derivative is no longer effective in offsetting changes in the cash flows of the hedged item, the derivative is settled or terminates, or treatment of the derivatives as a hedge is no longer appropriate or intended. |
Commitments and Contingencies, Policy [Policy Text Block] | Contingencies: |
Reclassification, Policy [Policy Text Block] | Reclassifications |
New Accounting Pronouncements, Policy [Policy Text Block] | Accounting Standards Updates Reclassification of Residential Real Estate Collateralized Consumer Mortgage Loans upon Foreclosure. In May 2014, the FASB issued ASU 2014-09, Revenue from Contracts with Customers , with three transition methods available – full retrospective, retrospective and cumulative effect approach. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers – Deferral of Effective In June 2014, the FASB issued ASU 2014-11, Repurchase-to-Maturity Transactions, Repurchase Financings, and Disclosures In August 2014, the FASB issued ASU 2014-14, Classification of Certain Government-Guaranteed Mortgage Loans Upon Foreclosure In January 2016, the FASB issued ASU 2016-1, Recognition and Measurement of Financial Assets and Financial Liabilities |
Note 1 - Summary of Significa34
Note 1 - Summary of Significant Accounting Policies (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Accounting Policies [Abstract] | |
Mortgage Loans Held For Sale [Table Text Block] | 2015 2014 Mortgage loans held for sale $ 1,316,000 $ 1,574,000 Less: Allowance to adjust to lower of cost or market 0 0 Mortgage loans held for sale, net $ 1,316,000 $ 1,574,000 |
Note 2 - Business Combination (
Note 2 - Business Combination (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Business Combinations [Abstract] | |
Schedule of Business Acquisitions by Acquisition, Equity Interest Issued or Issuable [Table Text Block] | Purchase Price: Mercantile common shares issued for Firstbank common shares 8,087,272 Price per share, based on Mercantile closing price on May 30, 2014 $ 21.43 Value of common stock issued 173,310,000 Value of replacement stock options granted 1,664,000 Total purchase price $ 174,974,000 |
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block] | Statement of Net Assets Acquired at Fair Value: Assets Cash and cash equivalents $ 91,806,000 Securities 358,599,000 Total loans 943,662,000 Premises and equipment 24,049,000 Core deposit intangible 17,478,000 Mortgage servicing rights 7,389,000 Other assets 9,897,000 Total Assets $ 1,452,880,000 Liabilities Deposits $ 1,229,609,000 Borrowings 87,615,000 Other liabilities 10,155,000 Total Liabilities $ 1,327,379,000 Net Identifiable Assets Acquired $ 125,501,000 Goodwill $ 49,473,000 |
Business Acquisition, Pro Forma Information [Table Text Block] | 2014 Net interest income $ 98,607,000 Noninterest expense 81,295,000 Net income 22,659,000 Net income per diluted share 1.33 |
Business Acquisition Fair Value Of Loans Acquired [Table Text Block] | Acquired Impaired Acquired Non-Impaired Acquired Total Loans Commercial Loans: Commercial & industrial $ 878,000 $ 163,316,000 $ 164,194,000 Commercial real estate 12,973,000 378,016,000 390,989,000 Construction & development 1,289,000 33,726,000 35,015,000 Total Commercial Loans $ 15,140,000 $ 575,058,000 $ 590,198,000 Consumer Loans: Residential mortgages $ 9,694,000 $ 216,653,000 $ 226,347,000 Instalment 167,000 61,657,000 61,824,000 Home equity lines 288,000 52,054,000 52,342,000 Construction 76,000 12,875,000 12,951,000 Total Consumer Loans $ 10,225,000 $ 343,239,000 $ 353,464,000 Total Loans $ 25,365,000 $ 918,297,000 $ 943,662,000 |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Table Text Block] | Acquired Impaired Contractually required payments $ 44,936,000 Nonaccretable difference 17,057,000 Expected cash flows 27,879,000 Accretable yield 2,514,000 Carrying balance $ 25,365,000 |
Note 3 - Securities (Tables)
Note 3 - Securities (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Investments, Debt and Equity Securities [Abstract] | |
Available-for-sale Securities [Table Text Block] | Amortized Cost Gross Unrealized Gains Gross Unrealized Losses Fair Value 2015 U.S. Government agency debt obligations $ 146,660,000 $ 1,932,000 $ (1,552,000 ) $ 147,040,000 Mortgage-backed securities 66,670,000 708,000 (304,000 ) 67,074,000 Municipal general obligation bonds 120,679,000 1,549,000 (205,000 ) 122,023,000 Municipal revenue bonds 8,841,000 76,000 (3,000 ) 8,914,000 Other investments 1,946,000 0 (5,000 ) 1,941,000 $ 344,796,000 $ 4,265,000 $ (2,069,000 ) $ 346,992,000 2014 U.S. Government agency debt obligations $ 194,894,000 $ 1,612,000 $ (3,038,000 ) $ 193,468,000 Mortgage-backed securities 92,656,000 1,123,000 (218,000 ) 93,561,000 Municipal general obligation bonds 132,347,000 1,042,000 (307,000 ) 133,082,000 Municipal revenue bonds 10,769,000 117,000 (13,000 ) 10,873,000 Other investments 1,925,000 3,000 0 1,928,000 $ 432,591,000 $ 3,897,000 $ (3,576,000 ) $ 432,912,000 |
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value [Table Text Block] | Less than 12 Months 12 Months or More Total Description of Securities Fair Value Unrealized Loss Fair Value Unrealized Loss Fair Value Unrealized Loss 2015 U.S. Government agency debt obligations $ 0 $ 0 $ 76,496,000 $ 1,552,000 $ 76,496,000 $ 1,552,000 Mortgage-backed securities 18,025,000 69,000 34,660,000 235,000 52,685,000 304,000 Municipal general obligation bonds 1,981,000 4,000 30,134,000 201,000 32,115,000 205,000 Municipal revenue bonds 0 0 1,134,000 3,000 1,134,000 3,000 Other investments 1,446,000 5,000 0 0 1,446,000 5,000 $ 21,452,000 $ 78,000 $ 142,424,000 $ 1,991,000 $ 163,876,000 $ 2,069,000 2014 U.S. Government agency debt obligations $ 81,891,000 $ 202,000 $ 74,120,000 $ 2,836,000 $ 156,011,000 $ 3,038,000 Mortgage-backed securities 49,940,000 218,000 0 0 49,940,000 218,000 Municipal general obligation bonds 54,104,000 307,000 0 0 54,104,000 307,000 Municipal revenue bonds 4,644,000 13,000 0 0 4,644,000 13,000 Other investments 0 0 0 0 0 0 $ 190,579,000 $ 740,000 $ 74,120,000 $ 2,836,000 $ 264,699,000 $ 3,576,000 |
Investments Classified by Contractual Maturity Date [Table Text Block] | Weighted Average Yield Amortized Cost Fair Value Due in one year or less 0.89% $ 40,382,000 $ 40,399,000 Due from one to five years 1.67 110,364,000 110,552,000 Due from five to ten years 3.09 54,022,000 54,868,000 Due after ten years 3.55 71,412,000 72,158,000 Mortgage-backed securities 1.75 66,670,000 67,074,000 Other investments 2.51 1,946,000 1,941,000 2.22% $ 344,796,000 $ 346,992,000 |
Note 4 - Loans and Allowance 37
Note 4 - Loans and Allowance for Loan Losses (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Note 4 - Loans and Allowance for Loan Losses (Tables) [Line Items] | |
Schedule of Accounts, Notes, Loans and Financing Receivable [Table Text Block] | December 31, 2015 December 31, Percent Increase Balance % Balance % (Decrease) Originated Loans Commercial: Commercial and industrial $ 577,872,000 35.7 % $ 384,570,000 30.8 % 50.3 % Vacant land, land development, and residential construction 30,138,000 1.9 29,826,000 2.4 1.0 Real estate – owner occupied 330,798,000 20.5 291,758,000 23.4 13.4 Real estate – non-owner occupied 520,754,000 32.2 410,977,000 33.0 26.7 Real estate – multi-family and residential rental 33,954,000 2.1 36,058,000 2.9 (5.8 ) Total commercial 1,493,516,000 92.4 1,153,189,000 92.5 29.5 Retail: Home equity and other 67,816,000 4.2 50,059,000 4.0 35.5 1-4 family mortgages 55,255,000 3.4 42,868,000 3.5 28.9 Total retail 123,071,000 7.6 92,927,000 7.5 32.4 Total originated loans $ 1,616,587,000 100.0 % $ 1,246,116,000 100.0 % 29.7 % December 31, 2015 December 31, Percent Increase Balance % Balance % (Decrease) Acquired Loans Commercial: Commercial and industrial $ 118,431,000 17.9 % $ 166,037,000 19.7 % (28.7% ) Vacant land, land development, and residential construction 14,982,000 2.3 22,148,000 2.6 (32.4 ) Real estate – owner occupied 115,121,000 17.4 138,630,000 16.4 (17.0 ) Real estate – non-owner occupied 123,597,000 18.7 148,597,000 17.6 (16.8 ) Real estate – multi-family and residential rental 81,049,000 12.3 86,702,000 10.3 (6.5 ) Total commercial 453,180,000 68.6 562,114,000 66.6 (19.4 ) Retail: Home equity and other 72,830,000 11.0 109,219,000 13.0 (33.3 ) 1-4 family mortgages 135,130,000 20.4 171,828,000 20.4 (21.4 ) Total retail 207,960,000 31.4 281,047,000 33.4 (26.0 ) Total acquired loans $ 661,140,000 100.0 % $ 843,161,000 100.0 % (21.6% ) December 31, 2015 December 31, 2014 Percent Increase Balance % Balance % (Decrease) Total Loans Commercial: Commercial and industrial $ 696,303,000 30.6 % $ 550,607,000 26.4 % 26.5 % Vacant land, land development, and residential construction 45,120,000 2.0 51,974,000 2.5 (13.2 ) Real estate – owner occupied 445,919,000 19.6 430,388,000 20.5 3.6 Real estate – non-owner occupied 644,351,000 28.3 559,574,000 26.8 15.2 Real estate – multi-family and residential rental 115,003,000 5.0 122,760,000 5.9 (6.3 ) Total commercial 1,946,696,000 85.5 1,715,303,000 82.1 13.5 Retail: Home equity and other 140,646,000 6.2 159,278,000 7.6 (11.7 ) 1-4 family mortgages 190,385,000 8.3 214,696,000 10.3 (11.3 ) Total retail 331,031,000 14.5 373,974,000 17.9 (11.5 ) Total loans $ 2,277,727,000 100.0 % $ 2,089,277,000 100.0 % 9.0 % |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Accretable Yield Movement [Table Text Block] | 2015 Balance at December 31, 2014 $ 4,998,000 Additions 26,000 Accretion income (2,607,000 ) Net reclassification from nonaccretable to accretable 4,272,000 Reductions (1) (1,496,000 ) Balance at December 31, 2015 $ 5,193,000 2014 Balance at May 31, 2014 $ 0 Additions 2,514,000 Accretion income (786,000 ) Net reclassification from nonaccretable to accretable 3,537,000 Reductions (1) (267,000 ) Balance at December 31, 2014 $ 4,998,000 |
Concentrations Within Loan Portfolio [Table Text Block] | 2015 2014 Percentage of Percentage of Balance Loan Portfolio Balance Loan Portfolio Commercial real estate loans to lessors of non-residential buildings $ 506,721,000 22.2 % $ 480,170,000 23.0 % |
Schedule of Financing Receivables, Non Accrual Status [Table Text Block] | 2015 2014 Loans past due 90 days or more still accruing interest $ 0 $ 0 Nonaccrual loans 1,954,000 26,049,000 Total nonperforming loans $ 1,954,000 $ 26,049,000 2015 2014 Loans past due 90 days or more still accruing interest $ 5,000 $ 26,000 Nonaccrual loans 3,485,000 3,359,000 Total nonperforming loans $ 3,490,000 $ 3,385,000 December 31, 2015 December 31, 2014 Commercial: Commercial and industrial $ 458,000 $ 6,478,000 Vacant land, land development, and residential construction 155,000 209,000 Real estate – owner occupied 1,797,000 18,063,000 Real estate – non-owner occupied 79,000 378,000 Real estate – multi-family and residential rental 157,000 106,000 Total commercial 2,646,000 25,234,000 Retail: Home equity and other 771,000 800,000 1-4 family mortgages 2,027,000 3,400,000 Total retail 2,798,000 4,200,000 Total nonperforming loans $ 5,444,000 $ 29,434,000 |
Past Due Financing Receivables [Table Text Block] | 30 – 59 Days Past Due 60 – 89 Days Past Due Greater Than 89 Days Past Due Total Past Due Current Total Loans Recorded Balance > 89 Days and Accruing Originated Loans Commercial: Commercial and industrial $ 0 $ 0 $ 0 $ 0 $ 577,872,000 $ 577,872,000 $ 0 Vacant land, land development, and residential construction 0 0 0 0 30,138,000 30,138,000 0 Real estate – owner occupied 432,000 0 9,000 441,000 330,357,000 330,798,000 0 Real estate – non-owner occupied 0 0 0 0 520,754,000 520,754,000 0 Real estate – multi-family and residential rental 0 0 0 0 33,954,000 33,954,000 0 Total commercial 432,000 0 9,000 441,000 1,493,075,000 1,493,516,000 0 Retail: Home equity and other 186,000 108,000 0 294,000 67,522,000 67,816,000 0 1- 4 family mortgages 107,000 95,000 356,000 558,000 54,697,000 55,255,000 0 Total retail 293,000 203,000 356,000 852,000 122,219,000 123,071,000 0 Total past due loans $ 725,000 $ 203,000 $ 365,000 $ 1,293,000 $ 1,615,294,000 $ 1,616,587,000 $ 0 30 – 59 Days Past Due 60 – 89 Days Past Due Greater Than 89 Days Past Due Total Past Due Current Total Loans Recorded Balance > 89 Days and Accruing Acquired Loans Commercial: Commercial and industrial $ 0 $ 5,000 $ 541,000 $ 546,000 $ 117,885,000 $ 118,431,000 $ 0 Vacant land, land development, and residential construction 27,000 0 0 27,000 14,955,000 14,982,000 0 Real estate – owner occupied 323,000 425,000 1,142,000 1,890,000 113,231,000 115,121,000 0 Real estate – non-owner occupied 53,000 703,000 79,000 835,000 122,762,000 123,597,000 0 Real estate – multi-family and residential rental 223,000 54,000 0 277,000 80,772,000 81,049,000 0 Total commercial 626,000 1,187,000 1,762,000 3,575,000 449,605,000 453,180,000 0 Retail: Home equity and other 395,000 44,000 28,000 467,000 72,363,000 72,830,000 5,000 1- 4 family mortgages 960,000 354,000 416,000 1,730,000 133,400,000 135,130,000 0 Total retail 1,355,000 398,000 444,000 2,197,000 205,763,000 207,960,000 5,000 Total past due loans $ 1,981,000 $ 1,585,000 $ 2,206,000 $ 5,772,000 $ 655,368,000 $ 661,140,000 $ 5,000 30 – 59 Days Past Due 60 – 89 Days Past Due Greater Than 89 Days Past Due Total Past Due Current Total Loans Recorded Balance > 89 Days and Accruing Originated Loans Commercial: Commercial and industrial $ 0 $ 0 $ 0 $ 0 $ 384,570,000 $ 384,570,000 $ 0 Vacant land, land development, and residential construction 0 0 0 0 29,826,000 29,826,000 0 Real estate – owner occupied 0 0 120,000 120,000 291,638,000 291,758,000 0 Real estate – non-owner occupied 0 0 116,000 116,000 410,861,000 410,977,000 0 Real estate – multi-family and residential rental 0 0 0 0 36,058,000 36,058,000 0 Total commercial 0 0 236,000 236,000 1,152,953,000 1,153,189,000 0 Retail: Home equity and other 38,000 3,000 0 41,000 50,018,000 50,059,000 0 1-4 family mortgages 0 0 366,000 366,000 42,502,000 42,868,000 0 Total retail 38,000 3,000 366,000 407,000 92,520,000 92,927,000 0 Total past due loans $ 38,000 $ 3,000 $ 602,000 $ 643,000 $ 1,245,473,000 $ 1,246,116,000 $ 0 30 – 59 Days Past Due 60 – 89 Days Past Due Greater Than 89 Days Past Due Total Past Due Current Total Loans Recorded Balance > 89 Days and Accruing Acquired Loans Commercial: Commercial and industrial $ 29,000 $ 32,000 $ 76,000 $ 137,000 $ 165,900,000 $ 166,037,000 $ 0 Vacant land, land development, and residential construction 0 38,000 0 38,000 22,110,000 22,148,000 0 Real estate – owner occupied 51,000 425,000 1,625,000 2,101,000 136,529,000 138,630,000 0 Real estate – non-owner occupied 68,000 598,000 395,000 1,061,000 147,536,000 148,597,000 0 Real estate – multi-family and residential rental 37,000 0 105,000 142,000 86,560,000 86,702,000 0 Total commercial 185,000 1,093,000 2,201,000 3,479,000 558,635,000 562,114,000 0 Retail: Home equity and other 445,000 419,000 155,000 1,019,000 108,200,000 109,219,000 26,000 1-4 family mortgages 1,087,000 408,000 750,000 2,245,000 169,583,000 171,828,000 0 Total retail 1,532,000 827,000 905,000 3,264,000 277,783,000 281,047,000 26,000 Total past due loans $ 1,717,000 $ 1,920,000 $ 3,106,000 $ 6,743,000 $ 836,418,000 $ 843,161,000 $ 26,000 |
Impaired Financing Receivables [Table Text Block] | Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Year-To-Date Average Recorded Principal Balance With no related allowance recorded: Commercial: Commercial and industrial $ 1,509,000 $ 1,501,000 $ 1,683,000 Vacant land, land development and residential construction 0 0 81,000 Real estate – owner occupied 712,000 505,000 927,000 Real estate – non-owner occupied 5,696,000 5,696,000 3,703,000 Real estate – multi-family and residential rental 0 0 186,000 Total commercial 7,917,000 7,702,000 6,580,000 Retail: Home equity and other 14,000 5,000 153,000 1-4 family mortgages 1,328,000 657,000 637,000 Total retail 1,342,000 662,000 790,000 Total with no related allowance recorded $ 9,259,000 $ 8,364,000 $ 7,370,000 Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Year-To-Date Average Recorded Principal Balance With an allowance recorded: Commercial: Commercial and industrial $ 352,000 $ 305,000 $ 165,000 $ 2,314,000 Vacant land, land development and residential construction 2,017,000 1,655,000 245,000 1,952,000 Real estate – owner occupied 5,867,000 1,314,000 242,000 7,285,000 Real estate – non-owner occupied 4,841,000 4,841,000 201,000 9,265,000 Real estate – multi-family and residential rental 1,028,000 1,028,000 365,000 1,219,000 Total commercial 14,105,000 9,143,000 1,218,000 22,035,000 Retail: Home equity and other 600,000 562,000 209,000 227,000 1-4 family mortgages 165,000 128,000 47,000 538,000 Total retail 765,000 690,000 256,000 765,000 Total with an allowance recorded $ 14,870,000 $ 9,833,000 $ 1,474,000 $ 22,800,000 Total impaired loans: Commercial $ 22,022,000 $ 16,845,000 $ 1,218,000 $ 28,615,000 Retail 2,107,000 1,352,000 256,000 1,555,000 Total impaired loans $ 24,129,000 $ 18,197,000 $ 1,474,000 $ 30,170,000 Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Year-To-Date Average Recorded Principal Balance With no related allowance recorded: Commercial: Commercial and industrial $ 1,528,000 $ 1,494,000 $ 1,444,000 Vacant land, land development and residential construction 0 0 0 Real estate – owner occupied 2,233,000 1,952,000 818,000 Real estate – non-owner occupied 880,000 880,000 565,000 Real estate – multi-family and residential rental 452,000 404,000 1,520,000 Total commercial 5,093,000 4,730,000 4,347,000 Retail: Home equity and other 471,000 310,000 400,000 1-4 family mortgages 1,804,000 1,548,000 994,000 Total retail 2,275,000 1,858,000 1,394,000 Total with no related allowance recorded $ 7,368,000 $ 6,588,000 $ 5,741,000 Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Year-To-Date Average Recorded Principal Balance With an allowance recorded: Commercial: Commercial and industrial $ 383,000 $ 376,000 $ 102,000 $ 127,000 Vacant land, land development and residential construction 0 0 0 0 Real estate – owner occupied 51,000 51,000 4,000 823,000 Real estate – non-owner occupied 0 0 0 0 Real estate – multi-family and residential rental 23,000 23,000 0 21,000 Total commercial 457,000 450,000 106,000 971,000 Retail: Home equity and other 0 0 0 0 1-4 family mortgages 175,000 175,000 6,000 185,000 Total retail 175,000 175,000 6,000 185,000 Total with an allowance recorded $ 632,000 $ 625,000 $ 112,000 $ 1,156,000 Total impaired loans: Commercial $ 5,550,000 $ 5,180,000 $ 106,000 $ 5,318,000 Retail 2,450,000 2,033,000 6,000 1,579,000 Total impaired loans $ 8,000,000 $ 7,213,000 $ 112,000 $ 6,897,000 Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Year-To-Date Average Recorded Principal Balance With no related allowance recorded: Commercial: Commercial and industrial $ 1,170,000 $ 1,164,000 $ 652,000 Vacant land, land development and residential construction 540,000 209,000 227,000 Real estate – owner occupied 3,609,000 1,901,000 4,365,000 Real estate – non-owner occupied 1,210,000 1,210,000 971,000 Real estate – multi-family and residential rental 375,000 317,000 64,000 Total commercial 6,904,000 4,801,000 6,279,000 Retail: Home equity and other 207,000 191,000 517,000 1-4 family mortgages 1,144,000 560,000 585,000 Total retail 1,351,000 751,000 1,102,000 Total with no related allowance recorded $ 8,255,000 $ 5,552,000 $ 7,381,000 Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Year-To-Date Average Recorded Principal Balance With an allowance recorded: Commercial: Commercial and industrial $ 5,299,000 $ 5,226,000 $ 1,578,000 $ 2,759,000 Vacant land, land development and residential construction 2,000,000 2,000,000 151,000 3,229,000 Real estate – owner occupied 15,745,000 15,674,000 2,200,000 4,630,000 Real estate – non-owner occupied 16,033,000 15,949,000 4,779,000 18,245,000 Real estate – multi-family and residential rental 1,371,000 1,371,000 666,000 1,700,000 Total commercial 40,448,000 40,220,000 9,374,000 30,563,000 Retail: Home equity and other 115,000 84,000 84,000 128,000 1-4 family mortgages 2,194,000 2,000,000 694,000 2,115,000 Total retail 2,309,000 2,084,000 778,000 2,243,000 Total with an allowance recorded $ 42,757,000 $ 42,304,000 $ 10,152,000 $ 32,806,000 Total impaired loans: Commercial $ 47,352,000 $ 45,021,000 $ 9,374,000 $ 36,842,000 Retail 3,660,000 2,835,000 778,000 3,345,000 Total impaired loans $ 51,012,000 $ 47,856,000 $ 10,152,000 $ 40,187,000 Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Year-To-Date Average Recorded Principal Balance With no related allowance recorded: Commercial: Commercial and industrial $ 1,586,000 $ 1,579,000 $ 563,000 Vacant land, land development and residential construction 0 0 0 Real estate – owner occupied 113,000 113,000 52,000 Real estate – non-owner occupied 326,000 326,000 260,000 Real estate – multi-family and residential rental 487,000 487,000 166,000 Total commercial 2,512,000 2,505,000 1,041,000 Retail: Home equity and other 641,000 639,000 262,000 1-4 family mortgages 866,000 866,000 458,000 Total retail 1,507,000 1,505,000 720,000 Total with no related allowance recorded $ 4,019,000 $ 4,010,000 $ 1,761,000 Unpaid Contractual Principal Balance Recorded Principal Balance Related Allowance Year-To-Date Average Recorded Principal Balance With an allowance recorded: Commercial: Commercial and industrial $ 0 $ 0 $ 0 $ 0 Vacant land, land development and residential construction 0 0 0 0 Real estate – owner occupied 1,516,000 1,502,000 605,000 501,000 Real estate – non-owner occupied 0 0 0 0 Real estate – multi-family and residential rental 0 0 0 0 Total commercial 1,516,000 1,502,000 605,000 501,000 Retail: Home equity and other 0 0 0 0 1-4 family mortgages 0 0 0 0 Total retail 0 0 0 0 Total with an allowance recorded $ 1,516,000 $ 1,502,000 $ 605,000 $ 501,000 Total impaired loans: Commercial $ 4,028,000 $ 4,007,000 $ 605,000 $ 1,542,000 Retail 1,507,000 1,505,000 0 720,000 Total impaired loans $ 5,535,000 $ 5,512,000 $ 605,000 $ 2,262,000 |
Financing Receivable Credit Quality Indicators [Table Text Block] | Commercial Commercial Vacant Land, Commercial Commercial Real Estate - Commercial Land Development, Real Estate - Real Estate - Multi-Family and and Residential Owner Non-Owner and Residential Industrial Construction Occupied Occupied Rental Internal credit risk grade groupings: Grades 1 – 4 $ 417,120,000 $ 18,118,000 $ 230,629,000 $ 400,350,000 $ 19,121,000 Grades 5 – 7 160,454,000 10,365,000 98,332,000 120,404,000 13,806,000 Grades 8 – 9 298,000 1,655,000 1,837,000 0 1,027,000 Total commercial $ 577,872,000 $ 30,138,000 $ 330,798,000 $ 520,754,000 $ 33,954,000 Commercial Commercial Vacant Land, Commercial Commercial Real Estate - Commercial Land Development, Real Estate - Real Estate - Multi-Family and and Residential Owner Non-Owner and Residential Industrial Construction Occupied Occupied Rental Internal credit risk grade groupings: Grades 1 – 4 $ 67,978,000 $ 3,095,000 $ 45,807,000 $ 71,197,000 $ 44,763,000 Grades 5 – 7 47,589,000 11,364,000 63,563,000 50,066,000 35,288,000 Grades 8 – 9 2,864,000 523,000 5,751,000 2,334,000 998,000 Total commercial $ 118,431,000 $ 14,982,000 $ 115,121,000 $ 123,597,000 $ 81,049,000 Commercial and Industrial Commercial Vacant Land, Land Development, and Residential Construction Commercial Real Estate - Owner Occupied Commercial Real Estate - Non-Owner Occupied Commercial Real Estate - Multi-Family and Residential Rental Internal credit risk grade groupings: Grades 1 – 4 $ 266,631,000 $ 11,242,000 $ 190,656,000 $ 285,035,000 $ 12,394,000 Grades 5 – 7 109,639,000 16,375,000 83,123,000 113,982,000 22,282,000 Grades 8 – 9 8,300,000 2,209,000 17,979,000 11,960,000 1,382,000 Total commercial $ 384,570,000 $ 29,826,000 $ 291,758,000 $ 410,977,000 $ 36,058,000 Commercial Commercial Vacant Land, Commercial Commercial Real Estate - Commercial Land Development, Real Estate - Real Estate - Multi-Family and and Residential Owner Non-Owner and Residential Industrial Construction Occupied Occupied Rental Internal credit risk grade groupings: Grades 1 – 4 $ 72,411,000 $ 5,875,000 $ 39,496,000 $ 65,886,000 $ 35,858,000 Grades 5 – 7 90,320,000 14,472,000 92,212,000 78,103,000 49,781,000 Grades 8 – 9 3,306,000 1,801,000 6,922,000 4,608,000 1,063,000 Total commercial $ 166,037,000 $ 22,148,000 $ 138,630,000 $ 148,597,000 $ 86,702,000 |
Allowance for Credit Losses on Financing Receivables [Table Text Block] | Commercial Loans Retail Loans Unallocated Total Allowance for loan losses: Beginning balance $ 17,736,000 $ 1,487,000 $ 76,000 $ 19,299,000 Provision for loan losses (1,771,000 ) 1,006,000 64,000 (701,000 ) Charge-offs (4,915,000 ) (1,280,000 ) 0 (6,195,000 ) Recoveries 2,622,000 208,000 0 2,830,000 Ending balance $ 13,672,000 $ 1,421,000 $ 140,000 $ 15,233,000 Ending balance: individually evaluated for impairment $ 1,218,000 $ 256,000 $ 0 $ 1,474,000 Ending balance: collectively evaluated for impairment $ 12,454,000 $ 1,165,000 $ 140,000 $ 13,759,000 Total loans: Ending balance $ 1,493,516,000 $ 123,071,000 $ 1,616,587,000 Ending balance: individually evaluated for impairment $ 16,845,000 $ 1,352,000 $ 18,197,000 Ending balance: collectively evaluated for impairment $ 1,476,671,000 $ 121,719,000 $ 1,598,390,000 Commercial Loans Retail Loans Unallocated Total Allowance for loan losses: Beginning balance $ 681,000 $ 61,000 $ 0 $ 742,000 Provision for loan losses (617,000 ) 318,000 0 (299,000 ) Charge-offs (77,000 ) (7,000 ) 0 (84,000 ) Recoveries 45,000 44,000 0 89,000 Ending balance $ 32,000 $ 416,000 $ 0 $ 448,000 Commercial Loans Retail Loans Unallocated Total Allowance for loan losses: Beginning balance $ 20,455,000 $ 2,358,000 $ 8,000 $ 22,821,000 Provision for loan losses (3,140,000 ) (721,000 ) 68,000 (3,793,000 ) Charge-offs (876,000 ) (554,000 ) 0 (1,430,000 ) Recoveries 1,297,000 404,000 0 1,701,000 Ending balance $ 17,736,000 $ 1,487,000 $ 76,000 $ 19,299,000 Ending balance: individually evaluated for impairment $ 9,374,000 $ 778,000 $ 0 $ 10,152,000 Ending balance: collectively evaluated for impairment $ 8,362,000 $ 709,000 $ 76,000 $ 9,147,000 Total loans: Ending balance $ 1,153,189,000 $ 92,927,000 $ 1,246,116,000 Ending balance: individually evaluated for impairment $ 45,021,000 $ 2,835,000 $ 47,856,000 Ending balance: collectively evaluated for impairment $ 1,108,168,000 $ 90,092,000 $ 1,198,260,000 Commercial Loans Retail Loans Unallocated Total Allowance for loan losses: Beginning balance $ 0 $ 0 $ 0 $ 0 Provision for loan losses 734,000 59,000 0 793,000 Charge-offs (55,000 ) (16,000 ) 0 (71,000 ) Recoveries 2,000 18,000 0 20,000 Ending balance $ 681,000 $ 61,000 $ 0 $ 742,000 Commercial Loans Retail Loans Unallocated Total Allowance for loan losses: Beginning balance $ 26,043,000 $ 2,645,000 $ (11,000 ) $ 28,677,000 Provision for loan losses (6,730,000 ) (489,000 ) 19,000 (7,200,000 ) Charge-offs (5,120,000 ) (170,000 ) 0 (5,290,000 ) Recoveries 6,262,000 372,000 0 6,634,000 Ending balance $ 20,455,000 $ 2,358,000 $ 8,000 $ 22,821,000 Ending balance: individually evaluated for impairment $ 11,260,000 $ 1,126,000 $ 0 $ 12,386,000 Ending balance: collectively evaluated for impairment $ 9,195,000 $ 1,232,000 $ 8,000 $ 10,435,000 Total loans: Ending balance $ 986,696,000 $ 66,547,000 $ 1,053,243,000 Ending balance: individually evaluated for impairment $ 33,240,000 $ 3,628,000 $ 36,868,000 Ending balance: collectively evaluated for impairment $ 953,456,000 $ 62,919,000 $ 1,016,375,000 |
Troubled Debt Restructurings on Financing Receivables [Table Text Block] | Pre- Post- Modification Modification Recorded Recorded Number of Principal Principal Contracts Balance Balance Originated Loans Commercial: Commercial and industrial 9 $ 1,876,000 $ 1,901,000 Vacant land, land development and residential construction 0 0 0 Real estate – owner occupied 0 0 0 Real estate – non-owner occupied 0 0 0 Real estate – multi-family and residential rental 0 0 0 Total commercial 9 1,876,000 1,901,000 Retail: Home equity and other 1 146,000 146,000 1-4 family mortgages 0 0 0 Total retail 1 146,000 146,000 Total 10 $ 2,022,000 $ 2,047,000 Acquired Loans Commercial: Commercial and industrial 3 $ 624,000 $ 624,000 Vacant land, land development and residential construction 0 0 0 Real estate – owner occupied 7 494,000 494,000 Real estate – non-owner occupied 5 714,000 714,000 Real estate – multi-family and residential rental 4 287,000 287,000 Total commercial 19 2,119,000 2,119,000 Retail: Home equity and other 0 0 0 1-4 family mortgages 1 143,000 143,000 Total retail 1 143,000 143,000 Total 20 $ 2,262,000 $ 2,262,000 Pre- Post- Modification Modification Recorded Recorded Number of Principal Principal Contracts Balance Balance Originated Loans Commercial: Commercial and industrial 2 $ 5,994,000 $ 6,094,000 Vacant land, land development and residential construction 0 0 0 Real estate – owner occupied 2 16,787,000 16,787,000 Real estate – non-owner occupied 1 146,000 146,000 Real estate – multi-family and residential rental 0 0 0 Total commercial 5 22,927,000 23,027,000 Retail: Home equity and other 0 0 0 1-4 family mortgages 0 0 0 Total retail 0 0 0 Total 5 $ 22,927,000 $ 23,027,000 Acquired Loans Commercial: Commercial and industrial 7 $ 1,604,000 $ 1,604,000 Vacant land, land development and residential construction 0 0 0 Real estate – owner occupied 2 1,619,000 1,619,000 Real estate – non-owner occupied 1 65,000 65,000 Real estate – multi-family and residential rental 4 394,000 394,000 Total commercial 14 3,682,000 3,682,000 Retail: Home equity and other 1 26,000 26,000 1-4 family mortgages 1 179,000 179,000 Total retail 2 205,000 205,000 Total 16 $ 3,887,000 $ 3,887,000 |
Troubled Debt Restructurings on Financing Receivables WithIn Previous Twelve Months that Became Over Thirty Days Past Due [Table Text Block] | Number of Contracts Recorded Principal Balance Commercial: Commercial and industrial 0 $ 0 Vacant land, land development and residential construction 0 0 Real estate – owner occupied 0 0 Real estate – non-owner occupied 0 0 Real estate – multi-family and residential rental 0 0 Total commercial 0 0 Retail: Home equity and other 0 0 1-4 family mortgages 0 0 Total retail 0 0 Total 0 $ 0 Number of Contracts Recorded Principal Balance Commercial: Commercial and industrial 0 $ 0 Vacant land, land development and residential construction 0 0 Real estate – owner occupied 1 18,000 Real estate – non-owner occupied 0 0 Real estate – multi-family and residential rental 0 0 Total commercial 1 18,000 Retail: Home equity and other 0 0 1-4 family mortgages 0 0 Total retail 0 0 Total 1 $ 18,000 Number of Contracts Recorded Principal Balance Commercial: Commercial and industrial 0 $ 0 Vacant land, land development and residential construction 0 0 Real estate – owner occupied 0 0 Real estate – non-owner occupied 0 0 Real estate – multi-family and residential rental 0 0 Total commercial 0 0 Retail: Home equity and other 0 0 1-4 family mortgages 0 0 Total retail 0 0 Total 0 $ 0 Number of Contracts Recorded P rincipal Balance Commercial: Commercial and industrial 0 $ 0 Vacant land, land development and residential construction 0 0 Real estate – owner occupied 0 0 Real estate – non-owner occupied 0 0 Real estate – multi-family and residential rental 0 0 Total commercial 0 0 Retail: Home equity and other 0 0 1-4 family mortgages 0 0 Total retail 0 0 Total 0 $ 0 |
Trouble Debt Restructuring Activity [Table Text Block] | Commercial and Commercial Vacant Land, Land Development, and Residential Commercial Real Estate - Owner Commercial Real Estate - Non-Owner Commercial Real Estate - Multi-Family and Residential Industrial Construction Occupied Occupied Rental Commercial Loan Portfolio: Beginning Balance $ 7,026,000 $ 2,680,000 $ 17,160,000 $ 17,439,000 $ 505,000 Charge-Offs 0 0 (4,198,000 ) 0 0 Payments (6,648,000 ) (594,000 ) (11,562,000 ) (6,782,000 ) (29,000 ) Transfers to ORE 0 0 0 0 0 Net Additions/Deletions 1,650,000 0 0 0 0 Ending Balance $ 2,028,000 $ 2,086,000 $ 1,400,000 $ 10,657,000 $ 476,000 Retail Home Equity and Other Retail 1-4 Family Mortgages Retail Loan Portfolio: Beginning Balance $ 0 $ 1,967,000 Charge-Offs 0 (148,000 ) Payments 0 (1,691,000 ) Transfers to ORE 0 0 Net Additions/Deletions 146,000 0 Ending Balance $ 146,000 $ 128,000 Commercial and Industrial Commercial Vacant Land, Land Development, and Residential Construction Commercial Real Estate - Owner Occupied Commercial Real Estate - Non-Owner Occupied Commercial Real Estate - Multi-Family and Residential Rental Commercial Loan Portfolio: Beginning Balance $ 1,439,000 $ 0 $ 1,569,000 $ 64,000 $ 381,000 Charge-Offs 0 0 (31,000 ) 0 (42,000 ) Payments (444,000 ) 0 (590,000 ) (9,000 ) (342,000 ) Transfers to ORE 0 0 0 0 0 Net Additions/Deletions 691,000 0 704,000 592,000 334,000 Ending Balance $ 1,686,000 $ 0 $ 1,652,000 $ 647,000 $ 331,000 Retail Home Equity and Other Retail 1-4 Family Mortgages Retail Loan Portfolio: Beginning Balance $ 26,000 $ 178,000 Charge-Offs 0 0 Payments (39,000 ) (3,000 ) Transfers to ORE 0 0 Net Additions/Deletions 154,000 141,000 Ending Balance $ 141,000 $ 316,000 Commercial and Industrial Commercial Vacant Land, Land Development, and Residential Construction Commercial Real Estate - Owner Occupied Commercial Real Estate - Non-Owner Occupied Commercial Real Estate - Multi-Family and Residential Rental Commercial Loan Portfolio: Beginning Balance $ 1,656,000 $ 4,501,000 $ 1,816,000 $ 22,312,000 $ 2,620,000 Charge-Offs (67,000 ) 0 (11,000 ) 0 (420,000 ) Payments (871,000 ) (4,719,000 ) (2,343,000 ) (5,191,000 ) (1,695,000 ) Transfers to ORE (21,000 ) 0 (48,000 ) 0 0 Net Additions/Deletions 6,329,000 2,898,000 17,746,000 318,000 0 Ending Balance $ 7,026,000 $ 2,680,000 $ 17,160,000 $ 17,439,000 $ 505,000 Retail Home Equity and Other Retail 1-4 Family Mortgages Retail Loan Portfolio: Beginning Balance $ 0 $ 1,987,000 Charge-Offs 0 0 Payments 0 (224,000 ) Transfers to ORE 0 0 Net Additions/Deletions 0 204,000 Ending Balance $ 0 $ 1,967,000 Commercial and Industrial Commercial Vacant Land, Land Development, and Residential Construction Commercial Real Estate - Owner Occupied Commercial Real Estate - Non-Owner Occupied Commercial Real Estate - Multi-Family and Residential Rental Commercial Loan Portfolio: Beginning Balance $ 0 $ 0 $ 0 $ 0 $ 0 Charge-Offs 0 0 0 0 0 Payments (2,000 ) 0 0 0 (18,000 ) Transfers to ORE 0 0 0 0 0 Net Additions/Deletions 1,441,000 0 1,569,000 64,000 399,000 Ending Balance $ 1,439,000 $ 0 $ 1,569,000 $ 64,000 $ 381,000 Retail Home Equity and Other Retail 1-4 Family Mortgages Retail Loan Portfolio: Beginning Balance $ 0 $ 0 Charge-Offs 0 0 Payments 0 0 Transfers to ORE 0 0 Net Additions/Deletions 26,000 178,000 Ending Balance $ 26,000 $ 178,000 Commercial and Industrial Commercial Vacant Land, Land Development, and Residential Construction Commercial Real Estate - Owner Occupied Commercial Real Estate - Non-Owner Occupied Commercial Real Estate - Multi-Family and Residential Rental Commercial Loan Portfolio: Beginning Balance $ 2,720,000 $ 3,071,000 $ 4,116,000 $ 37,671,000 $ 3,027,000 Charge-Offs (35,000 ) (725,000 ) (70,000 ) (2,537,000 ) (15,000 ) Payments (2,781,000 ) (1,596,000 ) (2,151,000 ) (13,795,000 ) (735,000 ) Transfers to ORE (74,000 ) 0 (363,000 ) (1,153,000 ) 0 Net Additions/Deletions 1,826,000 3,751,000 284,000 2,126,000 343,000 Ending Balance $ 1,656,000 $ 4,501,000 $ 1,816,000 $ 22,312,000 $ 2,620,000 Retail Home Equity and Other Retail 1-4 Family Mortgages Retail Loan Portfolio: Beginning Balance $ 0 $ 155,000 Charge-Offs 0 0 Payments 0 (46,000 ) Transfers to ORE 0 0 Net Additions/Deletions 0 1,878,000 Ending Balance $ 0 $ 1,987,000 |
Allowance Related to Loans Categorized as Troubled Debt Restructurings [Table Text Block] | December 31, 2015 December 31, 2014 Commercial: Commercial and industrial $ 221,000 $ 16,000 Vacant land, land development, and residential construction 186,000 151,000 Real estate – owner occupied 115,000 182,000 Real estate – non-owner occupied 201,000 4,778,000 Real estate – multi-family and residential rental 365,000 666,000 Total commercial 1,088,000 5,793,000 Retail: Home equity and other 14,000 0 1-4 family mortgages 6,000 0 Total retail 20,000 0 Total related allowance $ 1,108,000 $ 5,793,000 |
Retail Portfolio Segment [Member] | |
Note 4 - Loans and Allowance for Loan Losses (Tables) [Line Items] | |
Financing Receivable Credit Quality Indicators [Table Text Block] | Retail Retail Home Equity 1-4 Family and Other Mortgages Total retail $ 67,816,000 $ 55,255,000 Retail Retail Home Equity 1-4 Family and Other Mortgages Total retail $ 72,830,000 $ 135,130,000 Retail Retail Home Equity 1-4 Family and Other Mortgages Total retail $ 50,059,000 $ 42,868,000 Retail Retail Home Equity 1-4 Family and Other Mortgages Total retail $ 109,219,000 $ 171,828,000 |
Note 5 - Premises and Equipme38
Note 5 - Premises and Equipment, Net (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Property, Plant and Equipment [Abstract] | |
Property, Plant and Equipment [Table Text Block] | 2015 2014 Land and improvements $ 16,529,000 $ 16,579,000 Buildings 39,394,000 38,761,000 Furniture and equipment 16,978,000 16,622,000 72,901,000 71,962,000 Less: accumulated depreciation 26,039,000 23,150,000 Total premises and equipment $ 46,862,000 $ 48,812,000 |
Note 6 - Mortgage Loan Servic39
Note 6 - Mortgage Loan Servicing (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Mortgage Loan Servicing [Abstract] | |
Mortgage Loans Serviced For Others [Table Text Block] | 2015 2014 Mortgage loan portfolios serviced for: Federal Home Loan Mortgage Corporation $ 598,510,000 $ 589,118,000 Federal Home Loan Bank 4,675,000 1,702,000 Total mortgage loans serviced for others $ 603,185,000 $ 590,820,000 |
Schedule of Servicing Assets at Fair Value [Table Text Block] | 2015 2014 Balance at beginning of year $ 6,712,000 $ 0 Additions 1,487,000 575,000 Amortized to expense (2,078,000 ) (1,252,000 ) Firstbank merger 0 7,389,000 Balance at end of year $ 6,121,000 $ 6,712,000 |
Servicing Asset at Amortized Cost [Table Text Block] | 2016 $ 1,409,000 2017 1,146,000 2018 955,000 2019 804,000 2020 659,000 Thereafter 1,148,000 |
Note 7 - Core Deposit Intangi40
Note 7 - Core Deposit Intangible Assets, Net (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block] | 2016 $ 2,675,000 2017 2,357,000 2018 2,039,000 2019 1,721,000 2020 1,403,000 Thereafter 2,436,000 |
Note 8 - Deposits (Tables)
Note 8 - Deposits (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Summary of Deposits and Percentage Change in Deposits [Table Text Block] | December 31, 2015 December 31, 2014 Percent Increase Balance % Balance % (Decrease) Noninterest-bearing demand $ 674,568,000 29.6 % $ 558,738,000 24.5 % 20.7 % Interest-bearing checking 403,354,000 17.7 413,382,000 18.2 (2.4 ) Money market 274,395,000 12.1 235,587,000 10.3 16.5 Savings 332,794,000 14.6 330,459,000 14.5 0.7 Time, under $100,000 155,655,000 6.9 181,026,000 8.0 (14.0 ) Time, $100,000 and over 313,247,000 13.8 382,120,000 16.8 (18.0 ) 2,154,013,000 94.7 2,101,312,000 92.3 2.5 Out-of-area time, under $100,000 149,000 < 0.1 2,422,000 0.1 NM Out-of-area time, $100,000 and over 121,220,000 5.3 173,181,000 7.6 (30.0 ) 121,369,000 5.3 175,603,000 7.7 (30.9 ) Total deposits $ 2,275,382,000 100.0 % $ 2,276,915,000 100.0 % (0.1% ) |
Contractual Maturities Of Certificates Of Deposits [Table Text Block] | 2015 2014 In one year or less $ 305,122,000 $ 368,163,000 In one to two years 145,775,000 153,346,000 In two to three years 71,988,000 118,919,000 In three to four years 37,527,000 60,953,000 In four to five years 29,859,000 37,368,000 Total certificates of deposit $ 590,271,000 $ 738,749,000 |
Contractual Maturities Of Certificates Of Deposits Of More Than Specified Amount [Table Text Block] | 2015 2014 Up to three months $ 73,783,000 $ 75,356,000 Three months to six months 50,375,000 65,838,000 Six months to twelve months 91,786,000 125,492,000 Over twelve months 218,523,000 288,615,000 Total certificates of deposit $ 434,467,000 $ 555,301,000 |
Note 9 - Securities Sold Unde42
Note 9 - Securities Sold Under Agreements to Repurchase (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Repurchase Agreements [Table Text Block] | 2015 2014 Outstanding balance at year-end $ 154,771,000 $ 167,569,000 Weighted average interest rate at year-end 0.11 % 0.11 % Average daily balance during the year $ 146,826,000 $ 105,474,000 Weighted average interest rate during the year 0.11 % 0.12 % Maximum daily balance during the year $ 168,211,000 $ 178,042,000 |
Note 10 - Federal Home Loan B43
Note 10 - Federal Home Loan Bank Advances (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Maturities of Currently Outstanding FHLB Advances [Table Text Block] | 2016 $ 3,000,000 2017 45,000,000 2018 0 2019 0 2020 10,000,000 Thereafter 10,000,000 |
Note 11 - Federal Income Taxes
Note 11 - Federal Income Taxes (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Income Tax Disclosure [Abstract] | |
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block] | 2015 2014 2013 Current expense $ 7,399,000 $ 3,359,000 $ 0 Deferred expense 4,592,000 4,506,000 8,092,000 Change in valuation allowance (180,000 ) 0 0 Tax expense $ 11,811,000 $ 7,865,000 $ 8,092,000 |
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block] | 2015 2014 2013 Tax at statutory rate (35%) $ 13,591,000 $ 8,819,000 $ 8,794,000 Increase (decrease) from Tax-exempt interest (781,000 ) (621,000 ) (347,000 ) Bank owned life insurance (384,000 ) (415,000 ) (465,000 ) Change in valuation allowance (180,000 ) 0 0 Other (435,000 ) 82,000 110,000 Tax expense $ 11,811,000 $ 7,865,000 $ 8,092,000 |
Schedule of Deferred Tax Assets and Liabilities [Table Text Block] | 2015 2014 Deferred income tax assets Allowance for loan losses $ 5,488,000 $ 7,014,000 Deferred compensation 1,367,000 1,304,000 Stock compensation 767,000 521,000 Nonaccrual loan interest income 602,000 471,000 Deferred loan fees 504,000 445,000 Losses on capital investments 270,000 450,000 Fair value write-downs on foreclosed properties 115,000 212,000 Fair value of interest rate swap 89,000 89,000 Tax credit carryforwards 0 3,395,000 Business combination adjustments 0 315,000 Other 283,000 410,000 Deferred tax asset before valuation allowance 9,485,000 14,626,000 Valuation allowance (270,000 ) (450,000 ) Deferred tax asset after valuation allowance 9,215,000 14,176,000 Deferred income tax liabilities Depreciation 1,128,000 1,217,000 Prepaid expenses 378,000 425,000 Core deposit intangible 4,349,000 5,386,000 Mortgage loan servicing rights 2,142,000 2,349,000 Unrealized gain on securities 768,000 112,000 Business combination adjustments 1,091,000 0 Other 188,000 476,000 Deferred tax liability 10,044,000 9,965,000 Total net deferred tax asset (liability) $ (829,000 ) $ 4,211,000 |
Note 12 - Stock-based Compens45
Note 12 - Stock-based Compensation (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure of Compensation Related Costs, Share-based Payments [Abstract] | |
Schedule of Share-based Compensation, Restricted Stock Units Award Activity [Table Text Block] | 2015 2014 2013 Shares Weighted Average Fair Value Shares Weighted Average Fair Value Shares Weighted Average Fair Value Nonvested at beginning of year 101,490 $ 20.13 63,800 $ 14.30 66,100 $ 14.30 Granted 65,933 25.14 101,490 20.13 0 NA Vested (4,666 ) 20.13 (63,300 ) 14.30 0 NA Forfeited (7,256 ) 20.13 (500 ) 14.30 (2,300 ) 14.30 Nonvested at end of year 155,501 $ 22.25 101,490 $ 20.13 63,800 $ 14.30 |
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block] | 2015 2014 2013 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Outstanding at beginning of year 35,335 $ 31.09 60,876 $ 33.11 152,896 $ 26.15 Granted 4,200 27.66 6,488 22.15 0 NA Exercised (2,700 ) 6.21 (2,845 ) 17.74 (51,055 ) 13.72 Forfeited or expired (26,147 ) 35.88 (29,184 ) 34.60 (40,965 ) 31.30 Outstanding at end of year 10,688 $ 24.32 35,335 $ 31.09 60,876 $ 33.11 Options exercisable at year-end 0 $ NA 28,847 $ 33.11 60,876 $ 33.11 2015 2014 Shares Weighted Average Exercise Price Shares Weighted Average Exercise Price Outstanding at beginning of year 217,982 $ 14.89 0 $ NA Granted 0 NA 0 NA Replaced as part of merger 0 NA 282,178 15.48 Exercised (56,417 ) 15.50 (27,740 ) 8.34 Forfeited or expired (37,678 ) 21.39 (36,456 ) 24.46 Outstanding at end of year 123,887 $ 12.64 217,982 $ 14.89 Options exercisable at year-end 123,887 $ 12.64 210,777 $ 15.22 |
Schedule of Share-based Payment Award, Stock Options, Valuation Assumptions [Table Text Block] | 2015 2014 Risk-free interest rate 1.67 % 1.56 % Expected option life (Years) 5 5 Expected stock price volatility 29 % 26 % Dividend yield 2.5 % 2.5 % |
Schedule of Share-based Compensation, Shares Authorized under Stock Option Plans, by Exercise Price Range [Table Text Block] | Outstanding Exercisable Weighted Average Weighted Weighted Range of Remaining Average Average Exercise Contractual Exercise Exercise Prices Number Life (Years) Price Number Price $20.01 - $24.00 6,488 5.9 $ 22.15 0 NA $24.01 - $28.00 4,200 6.9 27.66 0 NA Outstanding at year end 10,688 6.3 $ 24.32 0 NA Outstanding Exercisable Weighted Average Weighted Weighted Range of Remaining Average Average Exercise Contractual Exercise Exercise Prices Number Life (Years) Price Number Price $ 4.00 - $ 8.00 48,430 3.8 $ 6.58 48,430 $ 6.58 $ 8.01 - $12.00 18,550 3.9 8.60 18,550 8.60 $12.01 - $16.00 27,350 1.9 16.00 27,350 16.00 $20.01 - $24.00 29,557 0.9 22.00 29,557 22.00 Outstanding at year end 123,887 2.7 $ 12.64 123,887 $ 12.64 |
Schedule Of Share Based Compensation Shares Authorized Under Stock Option Plans Information Related To Option Outstanding [Table Text Block] | 2015 2014 2013 Minimum exercise price $ 22.15 $ 6.21 $ 6.21 Maximum exercise price 27.66 35.88 40.28 Average remaining option term (Years) 6.3 2.0 1.4 2015 2014 Minimum exercise price $ 5.19 $ 5.19 Maximum exercise price 22.00 24.46 Average remaining option term (Years) 2.7 3.1 |
Schedule Of Share Based Compensation Arrangement By Share Based Payment Award Options Information Related To Stock Option Grants And Exercised [Table Text Block] | 2015 2014 2013 Aggregate intrinsic value of stock options exercised $ 36,000 $ 11,000 $ 408,000 Cash received from stock option exercises 17,000 50,000 289,000 Tax benefit realized from stock option exercises 0 0 0 Weighted average per share fair value of stock options granted $ 4.41 2.72 NA 2015 2014 Aggregate intrinsic value of stock options exercised $ 420,000 $ 333,000 Cash received from stock option exercises 874,000 232,000 Tax benefit realized from stock option exercises 147,000 116,000 Weighted average per share fair value of stock options granted NA NA |
Note 13 - Related Parties (Tabl
Note 13 - Related Parties (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Related Party Transactions [Abstract] | |
Schedule of Related Party Transactions [Table Text Block] | 2015 2014 Beginning balance $ 9,002,000 $ 6,884,000 New loans 3,371,000 781,000 Repayments (965,000 ) (381,000 ) Adjustments (257,000 ) 1,718,000 Ending balance $ 11,151,000 $ 9,002,000 |
Note 14 - Commitments and Off47
Note 14 - Commitments and Off-balance Sheet Risk (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block Supplement [Abstract] | |
Summary of Contractual Amounts of Financial Instruments with Off-balance Sheet Risk [Table Text Block] | 2015 2014 Commercial unused lines of credit $ 522,658,000 $ 554,856,000 Unused lines of credit secured by 1 – 4 family residential properties 61,905,000 60,983,000 Credit card unused lines of credit 15,612,000 11,649,000 Other consumer unused lines of credit 8,583,000 8,673,000 Commitments to make loans 178,034,000 110,126,000 Standby letters of credit 34,946,000 35,461,000 Total commitments $ 821,738,000 $ 781,748,000 |
Schedule of Fair Value, Off-balance Sheet Risks [Table Text Block] | 2015 2014 Contract Carrying Contract Carrying Amount Value Amount Value Standby letters of credit $ 34,946,000 $ 182,000 $ 35,461,000 $ 150,000 |
Note 17 - Fair Values of Fina48
Note 17 - Fair Values of Financial Instruments (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Fair Value Disclosures [Abstract] | |
Fair Value, by Balance Sheet Grouping [Table Text Block] | Level in 2015 2014 Fair Value Carrying Fair Carrying Fair Hierarchy Amount Value Amount Value Financial assets Cash Level 1 $ 12,496 $ 12,496 $ 13,261 $ 13,261 Cash equivalents Level 2 77,395 77,395 159,477 159,477 Securities available for sale (1) 346,992 346,992 432,912 432,912 Federal Home Loan Bank stock (2) 7,567 7,567 13,699 13,699 Loans, net Level 3 2,262,046 2,261,026 2,069,236 2,064,140 Bank owned life insurance Level 2 58,971 58,971 57,861 57,861 Accrued interest receivable Level 2 7,836 7,836 8,033 8,033 Financial liabilities Deposits Level 2 2,275,382 2,208,724 2,276,915 2,254,749 Securities sold under agreements to repurchase Level 2 154,771 154,771 167,569 167,569 Federal Home Loan Bank advances Level 2 68,000 68,858 54,022 54,720 Subordinated debentures Level 2 55,154 55,760 54,472 54,508 Accrued interest payable Level 2 1,479 1,479 1,942 1,942 Interest rate swap (1) 253 253 253 253 |
Note 18 - Fair Values Measure49
Note 18 - Fair Values Measurements (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis [Table Text Block] | Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Available for sale securities U.S. Government agency debt obligations $ 147,040,000 $ 0 $ 147,040,000 $ 0 Mortgage-backed securities 67,074,000 0 67,074,000 0 Municipal general obligation bonds 122,023,000 0 113,604,000 8,419,000 Municipal revenue bonds 8,914,000 0 8,914,000 0 Other investments 1,941,000 0 1,941,000 0 Derivatives Interest rate swap agreement (253,000 ) 0 (253,000 ) 0 Total $ 346,739,000 $ 0 $ 338,320,000 $ 8,419,000 Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Available for sale securities U.S. Government agency debt obligations $ 193,468,000 $ 0 $ 193,468,000 $ 0 Mortgage-backed securities 93,561,000 0 93,561,000 0 Municipal general obligation bonds 133,082,000 0 122,801,000 10,281,000 Municipal revenue bonds 10,873,000 0 10,873,000 0 Mutual funds 1,928,000 0 1,928,000 0 Derivatives Interest rate swap agreement (253,000 ) 0 (253,000 ) 0 Total $ 432,659,000 $ 0 $ 422,378,000 $ 10,281,000 |
Fair Value, Assets and Liabilities Measured on Nonrecurring Basis, Valuation Techniques [Table Text Block] | Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs Total (Level 1) (Level 2) (Level 3) Impaired loans (1) $ 8,970,000 $ 0 $ 0 $ 8,970,000 Foreclosed assets (1) 1,293,000 0 0 1,293,000 Total $ 10,263,000 $ 0 $ 0 $ 10,263,000 Quoted Prices in Active Significant Markets for Other Significant Identical Observable Unobservable Assets Inputs Inputs Total (Level 1) (Level 2) (Level 3) Impaired loans (1) $ 17,097,000 $ 0 $ 0 $ 17,097,000 Foreclosed assets (1) 1,995,000 0 0 1,995,000 Total $ 19,092,000 $ 0 $ 0 $ 19,092,000 |
Note 19 - Earnings Per Share (T
Note 19 - Earnings Per Share (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Earnings Per Share [Abstract] | |
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block] | 2015 2014 2013 Basic Net income attributable to common shares $ 27,020,000 $ 17,331,000 $ 17,033,000 Weighted average common shares outstanding 16,609,263 13,510,991 8,710,677 Basic earnings per common share $ 1.63 $ 1.28 $ 1.96 Diluted Net income attributable to common shares $ 27,020,000 $ 17,331,000 $ 17,033,000 Weighted average common shares outstanding for basic earnings per common share 16,609,263 13,510,991 8,710,677 Add: Dilutive effects of share-based awards 32,877 30,913 14,031 Average shares and dilutive potential common shares 16,642,140 13,541,904 8,724,708 Diluted earnings per common share $ 1.62 $ 1.28 $ 1.95 |
Note 20 - Subordinated Debent51
Note 20 - Subordinated Debentures (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Subordinated Borrowings [Abstract] | |
Schedule of Subordinated Borrowing [Table Text Block] | Preferred Securities Trust Name Outstanding Interest Rate Maturity Date Mercantile Bank Capital Trust I $32,000,000 3 Month Libor + 218 bps September 16, 2034 Firstbank Capital Trust I $10,000,000 3 Month Libor + 199 bps October 18, 2034 Firstbank Capital Trust II $10,000,000 3 Month Libor + 127 bps April 7, 2036 Firstbank Capital Trust III $7,500,000 3 Month Libor + 135 bps July 30, 2037 Firstbank Capital Trust IV $7,500,000 3 Month Libor + 135 bps July 30, 2037 |
Note 21 - Regulatory Matters (T
Note 21 - Regulatory Matters (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Disclosure Text Block [Abstract] | |
Schedule of Compliance with Regulatory Capital Requirements under Banking Regulations [Table Text Block] | Actual Minimum Required for Capital Adequacy Purposes Minimum Required to be Well Capitalized Under Prompt Corrective Action Regulations Amount Ratio Amount Ratio Amount Ratio 2015 Total capital (to risk weighted assets) Consolidated $ 345,539 13.5 % $ 205,602 8.0 % $ NA NA Bank 347,433 13.5 205,624 8.0 257,030 10.0 % Tier 1 capital (to risk weighted assets) Consolidated 329,858 12.8 102,801 4.0 NA NA Bank 331,752 12.9 102,812 4.0 154,218 6.0 Common equity (to risk weighted assets) Consolidated 280,171 10.9 115,804 4.5 NA NA Bank 331,752 12.9 115,664 4.5 167,070 6.5 Tier 1 capital (to average assets) Consolidated 329,858 11.6 114,138 4.0 NA NA Bank 331,752 11.6 114,280 4.0 142,850 5.0 2014 Total capital (to risk weighted assets) Consolidated $ 334,793 14.4 % $ 185,553 8.0 % $ NA NA Bank 332,749 14.4 185,309 8.0 231,636 10.0 % Tier 1 capital (to risk weighted assets) Consolidated 314,752 13.6 92,777 4.0 NA NA Bank 312,708 13.5 92,655 4.0 138,982 6.0 Tier 1 capital (to average assets) Consolidated 314,752 11.2 112,949 4.0 NA NA Bank 312,708 11.1 112,856 4.0 141,070 5.0 |
Note 23 - Quarterly Financial53
Note 23 - Quarterly Financial Data (Unaudited) (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Quarterly Financial Information Disclosure [Abstract] | |
Schedule of Quarterly Financial Information [Table Text Block] | Interest Net Interest Net Earnings per Share Income Income Income Basic Diluted 2015 First quarter $ 27,589,000 $ 24,849,000 $ 6,646,000 $ 0.39 $ 0.39 Second quarter 27,663,000 25,041,000 6,558,000 0.39 0.39 Third quarter 28,501,000 25,625,000 7,336,000 0.45 0.45 Fourth quarter 28,575,000 25,659,000 6,480,000 0.40 0.40 2014 First quarter $ 13,588,000 $ 11,064,000 $ 3,580,000 $ 0.41 $ 0.41 Second quarter 18,483,000 15,552,000 1,510,000 0.13 0.13 Third quarter 28,900,000 25,989,000 5,948,000 0.35 0.35 Fourth quarter 28,147,000 25,173,000 6,293,000 0.37 0.37 |
Note 24 - Mercantile Bank Cor54
Note 24 - Mercantile Bank Corporation (Parent Company Only) Condensed Financial Statements (Tables) | 12 Months Ended |
Dec. 31, 2015 | |
Condensed Financial Information of Parent Company Only Disclosure [Abstract] | |
Condensed Balance Sheet [Table Text Block] | 2015 2014 ASSETS Cash and cash equivalents $ 4,940,000 $ 1,441,000 Investment in bank subsidiary 368,248,000 361,355,000 Other assets 20,940,000 20,948,000 Total assets $ 394,128,000 $ 383,744,000 LIABILITIES AND SHAREHOLDERS’ EQUITY Liabilities $ 5,170,000 $ 1,134,000 Subordinated debentures 55,154,000 54,472,000 Shareholders’ equity 333,804,000 328,138,000 Total liabilities and shareholders’ equity $ 394,128,000 $ 383,744,000 |
Condensed Income Statement [Table Text Block] | 2015 2014 2013 Income Interest and dividends from subsidiaries $ 24,166,000 $ 12,139,000 $ 5,516,000 Total income 24,166,000 12,139,000 5,516,000 Expenses Interest expense 2,569,000 2,145,000 1,213,000 Other operating expenses 2,276,000 3,552,000 2,773,000 Total expenses 4,845,000 5,697,000 3,986,000 Income before income tax benefit and equity in undistributed net income of subsidiary 19,321,000 6,442,000 1,530,000 Federal income tax benefit (2,051,000 ) (1,758,000 ) (1,042,000 ) Equity in undistributed net income of subsidiary 5,648,000 9,131,000 14,461,000 Net income $ 27,020,000 $ 17,331,000 $ 17,033,000 Comprehensive income $ 28,267,000 $ 22,920,000 $ 9,810,000 |
Condensed Cash Flow Statement [Table Text Block] | 2015 2014 2013 Cash flows from operating activities Net income $ 27,020,000 $ 17,331,000 $ 17,033,000 Adjustments to reconcile net income to net cash from operating activities: Equity in undistributed net income of subsidiary (5,648,000 ) (9,131,000 ) (14,461,000 ) Stock-based compensation expense 684,000 714,000 473,000 Stock grants to directors for retainer fees 403,000 155,000 0 Change in other assets 11,000 (8,163,000 ) 3,244,000 Change in other liabilities 4,717,000 21,979,000 (708,000 ) Net cash from operating activities 27,187,000 22,885,000 5,581,000 Cash flows from investing activities Net capital investment into subsidiaries 0 0 0 Net cash for investing activities 0 0 0 Cash flows from financing activities Stock option exercises, net of cashless exercises 891,000 282,000 289,000 Employee stock purchase plan 44,000 23,000 19,000 Dividend reinvestment plan 655,000 209,000 33,000 Repurchase of common shares (15,762,000 ) 0 0 Cash dividends on common stock (9,516,000 ) (24,464,000 ) (3,889,000 ) Net cash for financing activities (23,688,000 ) (23,950,000 ) (3,548,000 ) Net change in cash and cash equivalents 3,499,000 (1,065,000 ) 2,033,000 Cash and cash equivalents at beginning of period 1,441,000 2,506,000 473,000 Cash and cash equivalents at end of period $ 4,940,000 $ 1,441,000 $ 2,506,000 |
Note 1 - Summary of Significa55
Note 1 - Summary of Significant Accounting Policies (Details) | 12 Months Ended | ||
Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Jun. 01, 2014USD ($) | |
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Number of Unconsolidated Business Trusts Formed to Issue Trust Preferred Securities | 5 | ||
Number of Operating Segments | 1 | ||
Loans and Leases Receivable, Deferred Income | $ 1,400,000 | $ 1,100,000 | |
Interest Income on Commercial and Mortgage Loans, Discontinued Period | 90 days | ||
Maximum Delinquency Period for Consumer and Credit Card Loans to be Charged-off | 120 days | ||
Repossessed Assets | $ 1,300,000 | $ 2,000,000 | |
Firstbank Corporation [Member] | |||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | $ 1,500,000,000 | $ 1,452,880,000 | |
Business Combination, Branches Acquired | 46 | 46 | |
Core Deposits [Member] | |||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Acquired Finite-lived Intangible Assets, Weighted Average Useful Life | 10 years | ||
Minimum [Member] | Building Improvements [Member] | |||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Property, Plant and Equipment, Useful Life | 5 years | ||
Minimum [Member] | Furniture and Fixtures [Member] | |||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Property, Plant and Equipment, Useful Life | 3 years | ||
Maximum [Member] | Building Improvements [Member] | |||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Property, Plant and Equipment, Useful Life | 33 years | ||
Maximum [Member] | Furniture and Fixtures [Member] | |||
Note 1 - Summary of Significant Accounting Policies (Details) [Line Items] | |||
Property, Plant and Equipment, Useful Life | 7 years |
Note 1 - Summary of Significa56
Note 1 - Summary of Significant Accounting Policies (Details) - Year-end Mortgage Loans Held for Sale - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Year-end Mortgage Loans Held for Sale [Abstract] | ||
Mortgage loans held for sale | $ 1,316,000 | $ 1,574,000 |
Less: Allowance to adjust to lower of cost or market | 0 | 0 |
Mortgage loans held for sale, net | $ 1,316,000 | $ 1,574,000 |
Note 2 - Business Combination57
Note 2 - Business Combination (Details) | Jun. 01, 2014USD ($)shares | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) |
Note 2 - Business Combination (Details) [Line Items] | ||||
Goodwill | $ 49,473,000 | $ 49,473,000 | ||
Business Combination, Acquisition Related Costs | 0 | 5,447,000 | $ 1,246,000 | |
Firstbank Corporation [Member] | ||||
Note 2 - Business Combination (Details) [Line Items] | ||||
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Assets | $ 1,452,880,000 | $ 1,500,000,000 | ||
Business Combination, Branches Acquired | 46 | 46 | ||
Business Acquisition, Conversion of Stock Per Share (in Shares) | shares | 1 | |||
Business Acquisition, Equity Interest Issued or Issuable, Number of Shares (in Shares) | shares | 8,087,272 | |||
Goodwill | $ 49,473,000 | |||
Business Combination, Acquisition Related Costs | $ 5,400,000 | $ 1,200,000 | ||
Business Combination, Acquired Receivables and Certain Loans, Estimated Uncollectible Cash Flows | 10,400,000 | |||
Business Combination Acquired Receivables And Certain Loans Preacquisition Charge-offs | 2,800,000 | |||
Business Combination Acquired Receivables And Certain Loans Estimated UncollectibleI nterest | 3,900,000 | |||
Business Combination, Acquired Receivables, Gross Contractual Amount | 926,400,000 | |||
Business Combination, Acquired Receivables, Unaccredted Discount | $ 8,100,000 |
Note 2 - Business Combination
Note 2 - Business Combination (Details) - Purchase Price - Firstbank Corporation [Member] | Jun. 01, 2014USD ($)$ / sharesshares |
Purchase Price: | |
Mercantile common shares issued for Firstbank common shares (in Shares) | shares | 8,087,272 |
Price per share, based on Mercantile closing price on May 30, 2014 (in Dollars per share) | $ / shares | $ 21.43 |
Value of common stock issued | $ 173,310,000 |
Value of replacement stock options granted | 1,664,000 |
Total purchase price | $ 174,974,000 |
Note 2 - Business Combination59
Note 2 - Business Combination (Details) - Net Assets Acquired - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 | Jun. 01, 2014 |
Liabilities | |||
Goodwill | $ 49,473,000 | $ 49,473,000 | |
Firstbank Corporation [Member] | |||
Assets | |||
Cash and cash equivalents | $ 91,806,000 | ||
Securities | 358,599,000 | ||
Total loans | 943,662,000 | ||
Premises and equipment | 24,049,000 | ||
Other assets | 9,897,000 | ||
Total Assets | $ 1,500,000,000 | 1,452,880,000 | |
Liabilities | |||
Deposits | 1,229,609,000 | ||
Borrowings | 87,615,000 | ||
Other liabilities | 10,155,000 | ||
Total Liabilities | 1,327,379,000 | ||
Net Identifiable Assets Acquired | 125,501,000 | ||
Goodwill | 49,473,000 | ||
Core Deposits [Member] | Firstbank Corporation [Member] | |||
Assets | |||
Intangible Assets | 17,478,000 | ||
Servicing Contracts [Member] | Firstbank Corporation [Member] | |||
Assets | |||
Intangible Assets | $ 7,389,000 |
Note 2 - Business Combination60
Note 2 - Business Combination (Details) - Pro Forma Information - Firstbank Corporation [Member] | 12 Months Ended |
Dec. 31, 2014USD ($)$ / shares | |
Note 2 - Business Combination (Details) - Pro Forma Information [Line Items] | |
Net interest income | $ 98,607,000 |
Noninterest expense | 81,295,000 |
Net income | $ 22,659,000 |
Net income per diluted share (in Dollars per share) | $ / shares | $ 1.33 |
Note 2 - Business Combination61
Note 2 - Business Combination (Details) - Acquired Loans Fair Value - Firstbank Corporation [Member] | Jun. 01, 2014USD ($) |
Note 2 - Business Combination (Details) - Acquired Loans Fair Value [Line Items] | |
Loans | $ 943,662,000 |
Nonperforming Financial Instruments [Member] | |
Note 2 - Business Combination (Details) - Acquired Loans Fair Value [Line Items] | |
Loans | 25,365,000 |
Performing Financial Instruments [Member] | |
Note 2 - Business Combination (Details) - Acquired Loans Fair Value [Line Items] | |
Loans | 918,297,000 |
Commercial Portfolio Segment [Member] | |
Note 2 - Business Combination (Details) - Acquired Loans Fair Value [Line Items] | |
Loans | 590,198,000 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |
Note 2 - Business Combination (Details) - Acquired Loans Fair Value [Line Items] | |
Loans | 164,194,000 |
Commercial Portfolio Segment [Member] | Real Estate Loan [Member] | |
Note 2 - Business Combination (Details) - Acquired Loans Fair Value [Line Items] | |
Loans | 390,989,000 |
Commercial Portfolio Segment [Member] | Construction Loans [Member] | |
Note 2 - Business Combination (Details) - Acquired Loans Fair Value [Line Items] | |
Loans | 35,015,000 |
Commercial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |
Note 2 - Business Combination (Details) - Acquired Loans Fair Value [Line Items] | |
Loans | 15,140,000 |
Commercial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Commercial and Industrial [Member] | |
Note 2 - Business Combination (Details) - Acquired Loans Fair Value [Line Items] | |
Loans | 878,000 |
Commercial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Real Estate Loan [Member] | |
Note 2 - Business Combination (Details) - Acquired Loans Fair Value [Line Items] | |
Loans | 12,973,000 |
Commercial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Construction Loans [Member] | |
Note 2 - Business Combination (Details) - Acquired Loans Fair Value [Line Items] | |
Loans | 1,289,000 |
Commercial Portfolio Segment [Member] | Performing Financial Instruments [Member] | |
Note 2 - Business Combination (Details) - Acquired Loans Fair Value [Line Items] | |
Loans | 575,058,000 |
Commercial Portfolio Segment [Member] | Performing Financial Instruments [Member] | Commercial and Industrial [Member] | |
Note 2 - Business Combination (Details) - Acquired Loans Fair Value [Line Items] | |
Loans | 163,316,000 |
Commercial Portfolio Segment [Member] | Performing Financial Instruments [Member] | Real Estate Loan [Member] | |
Note 2 - Business Combination (Details) - Acquired Loans Fair Value [Line Items] | |
Loans | 378,016,000 |
Commercial Portfolio Segment [Member] | Performing Financial Instruments [Member] | Construction Loans [Member] | |
Note 2 - Business Combination (Details) - Acquired Loans Fair Value [Line Items] | |
Loans | 33,726,000 |
Consumer Portfolio Segment [Member] | |
Note 2 - Business Combination (Details) - Acquired Loans Fair Value [Line Items] | |
Loans | 353,464,000 |
Consumer Portfolio Segment [Member] | Construction Loans [Member] | |
Note 2 - Business Combination (Details) - Acquired Loans Fair Value [Line Items] | |
Loans | 12,951,000 |
Consumer Portfolio Segment [Member] | Residential Mortgages [Member] | |
Note 2 - Business Combination (Details) - Acquired Loans Fair Value [Line Items] | |
Loans | 226,347,000 |
Consumer Portfolio Segment [Member] | Installment [Member] | |
Note 2 - Business Combination (Details) - Acquired Loans Fair Value [Line Items] | |
Loans | 61,824,000 |
Consumer Portfolio Segment [Member] | Home Equity Lines [Member] | |
Note 2 - Business Combination (Details) - Acquired Loans Fair Value [Line Items] | |
Loans | 52,342,000 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | |
Note 2 - Business Combination (Details) - Acquired Loans Fair Value [Line Items] | |
Loans | 10,225,000 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Construction Loans [Member] | |
Note 2 - Business Combination (Details) - Acquired Loans Fair Value [Line Items] | |
Loans | 76,000 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Residential Mortgages [Member] | |
Note 2 - Business Combination (Details) - Acquired Loans Fair Value [Line Items] | |
Loans | 9,694,000 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Installment [Member] | |
Note 2 - Business Combination (Details) - Acquired Loans Fair Value [Line Items] | |
Loans | 167,000 |
Consumer Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Home Equity Lines [Member] | |
Note 2 - Business Combination (Details) - Acquired Loans Fair Value [Line Items] | |
Loans | 288,000 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | |
Note 2 - Business Combination (Details) - Acquired Loans Fair Value [Line Items] | |
Loans | 343,239,000 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | Construction Loans [Member] | |
Note 2 - Business Combination (Details) - Acquired Loans Fair Value [Line Items] | |
Loans | 12,875,000 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | Residential Mortgages [Member] | |
Note 2 - Business Combination (Details) - Acquired Loans Fair Value [Line Items] | |
Loans | 216,653,000 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | Installment [Member] | |
Note 2 - Business Combination (Details) - Acquired Loans Fair Value [Line Items] | |
Loans | 61,657,000 |
Consumer Portfolio Segment [Member] | Performing Financial Instruments [Member] | Home Equity Lines [Member] | |
Note 2 - Business Combination (Details) - Acquired Loans Fair Value [Line Items] | |
Loans | $ 52,054,000 |
Note 2 - Business Combination62
Note 2 - Business Combination (Details) - Acquired Impaired Loans - Firstbank Corporation [Member] | Jun. 01, 2014USD ($) |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities Acquired During Period [Line Items] | |
Contractually required payments | $ 44,936,000 |
Nonaccretable difference | 17,057,000 |
Expected cash flows | 27,879,000 |
Accretable yield | 2,514,000 |
Carrying balance | $ 25,365,000 |
Note 3 - Securities (Details)
Note 3 - Securities (Details) | 12 Months Ended | ||
Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Dec. 31, 2013USD ($) | |
Note 3 - Securities (Details) [Line Items] | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | $ 163,876,000 | $ 264,699,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 2,069,000 | 3,576,000 | |
Proceeds from Sale of Available-for-sale Securities | 1,483,000 | 0 | $ 10,310,000 |
Available-for-sale Debt Securities, Amortized Cost Basis | 344,796,000 | ||
Available-for-sale Securities | $ 346,992,000 | 432,912,000 | |
Debt Securities [Member] | |||
Note 3 - Securities (Details) [Line Items] | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 250 | ||
Mutual Funds [Member] | |||
Note 3 - Securities (Details) [Line Items] | |||
Available-for-sale, Securities in Unrealized Loss Positions, Qualitative Disclosure, Number of Positions | 1 | ||
Municipal General Obligation Bonds [Member] | |||
Note 3 - Securities (Details) [Line Items] | |||
Available-for-sale Securities, Continuous Unrealized Loss Position, Fair Value | $ 32,115,000 | 54,104,000 | |
Available-for-sale Securities, Continuous Unrealized Loss Position, Accumulated Loss | 205,000 | 307,000 | |
Proceeds from Sale of Available-for-sale Securities | 1,500,000 | ||
Available-for-sale Securities | 122,023,000 | 133,082,000 | |
Michigan Strategic Fund Bonds [Member] | |||
Note 3 - Securities (Details) [Line Items] | |||
Available-for-sale Securities, Sold at Par | $ 10,300,000 | ||
State of Michigan and all its Political Subdivisions [Member] | |||
Note 3 - Securities (Details) [Line Items] | |||
Available-for-sale Debt Securities, Amortized Cost Basis | 106,000,000 | 113,000,000 | |
Available-for-sale Securities | 107,000,000 | 114,000,000 | |
All Other States and Their Political Subdivisions [Member] | |||
Note 3 - Securities (Details) [Line Items] | |||
Available-for-sale Debt Securities, Amortized Cost Basis | 24,000,000 | 30,000,000 | |
Available-for-sale Securities | $ 24,100,000 | 30,000,000 | |
Securities Other Than U.S. Government Agencies and the State of Michigan and Political Subdivisions [Member] | Stockholders' Equity, Total [Member] | Securities Issued Concentration Risk [Member] | |||
Note 3 - Securities (Details) [Line Items] | |||
Concentration Risk, Percentage | 10.00% | ||
U.S. Government Agency Debt Obligations and Mortgage-Backed Securities [Member] | |||
Note 3 - Securities (Details) [Line Items] | |||
Available-for-sale Securities, Restricted | $ 155,000,000 | $ 168,000,000 |
Note 3 - Securities (Details) -
Note 3 - Securities (Details) - Available-for-sale Securities - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
2,015 | ||
Available-for-sale Securities, Amortized Cost | $ 344,796,000 | $ 432,591,000 |
Available-for-sale Securities, Gross Unrealized Gains | 4,265,000 | 3,897,000 |
Available-for-sale Securities, Gross Unrealized Losses | (2,069,000) | (3,576,000) |
Securities available for sale | 346,992,000 | 432,912,000 |
US Government Agencies Debt Securities [Member] | ||
2,015 | ||
Available-for-sale Securities, Amortized Cost | 146,660,000 | 194,894,000 |
Available-for-sale Securities, Gross Unrealized Gains | 1,932,000 | 1,612,000 |
Available-for-sale Securities, Gross Unrealized Losses | (1,552,000) | (3,038,000) |
Securities available for sale | 147,040,000 | 193,468,000 |
Collateralized Mortgage Backed Securities [Member] | ||
2,015 | ||
Available-for-sale Securities, Amortized Cost | 66,670,000 | 92,656,000 |
Available-for-sale Securities, Gross Unrealized Gains | 708,000 | 1,123,000 |
Available-for-sale Securities, Gross Unrealized Losses | (304,000) | (218,000) |
Securities available for sale | 67,074,000 | 93,561,000 |
Municipal General Obligation Bonds [Member] | ||
2,015 | ||
Available-for-sale Securities, Amortized Cost | 120,679,000 | 132,347,000 |
Available-for-sale Securities, Gross Unrealized Gains | 1,549,000 | 1,042,000 |
Available-for-sale Securities, Gross Unrealized Losses | (205,000) | (307,000) |
Securities available for sale | 122,023,000 | 133,082,000 |
Municipal Revenue Bonds [Member] | ||
2,015 | ||
Available-for-sale Securities, Amortized Cost | 8,841,000 | 10,769,000 |
Available-for-sale Securities, Gross Unrealized Gains | 76,000 | 117,000 |
Available-for-sale Securities, Gross Unrealized Losses | (3,000) | (13,000) |
Securities available for sale | 8,914,000 | 10,873,000 |
Other Debt Obligations [Member] | ||
2,015 | ||
Available-for-sale Securities, Amortized Cost | 1,946,000 | 1,925,000 |
Available-for-sale Securities, Gross Unrealized Gains | 0 | 3,000 |
Available-for-sale Securities, Gross Unrealized Losses | (5,000) | 0 |
Securities available for sale | $ 1,941,000 | $ 1,928,000 |
Note 3 - Securities (Details)65
Note 3 - Securities (Details) - Securities in a Continuous Loss Position - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
2,015 | ||
Securities available for sale, continuous unrealized loss position, less than 12 months | $ 21,452,000 | $ 190,579,000 |
Securities available for sale, continuous unrealized loss position, less than 12 months, unrealized loss | 78,000 | 740,000 |
Securities available for sale, continuous unrealized loss position, 12 months or more | 142,424,000 | 74,120,000 |
Securities available for sale, continuous unrealized loss position, 12 months or more, unrealized loss | 1,991,000 | 2,836,000 |
Securities available for sale, continuous unrealized loss position | 163,876,000 | 264,699,000 |
Securities available for sale, continuous unrealized loss position, unrealized loss | 2,069,000 | 3,576,000 |
US Government Agencies Debt Securities [Member] | ||
2,015 | ||
Securities available for sale, continuous unrealized loss position, less than 12 months | 0 | 81,891,000 |
Securities available for sale, continuous unrealized loss position, less than 12 months, unrealized loss | 0 | 202,000 |
Securities available for sale, continuous unrealized loss position, 12 months or more | 76,496,000 | 74,120,000 |
Securities available for sale, continuous unrealized loss position, 12 months or more, unrealized loss | 1,552,000 | 2,836,000 |
Securities available for sale, continuous unrealized loss position | 76,496,000 | 156,011,000 |
Securities available for sale, continuous unrealized loss position, unrealized loss | 1,552,000 | 3,038,000 |
Collateralized Mortgage Backed Securities [Member] | ||
2,015 | ||
Securities available for sale, continuous unrealized loss position, less than 12 months | 18,025,000 | 49,940,000 |
Securities available for sale, continuous unrealized loss position, less than 12 months, unrealized loss | 69,000 | 218,000 |
Securities available for sale, continuous unrealized loss position, 12 months or more | 34,660,000 | 0 |
Securities available for sale, continuous unrealized loss position, 12 months or more, unrealized loss | 235,000 | 0 |
Securities available for sale, continuous unrealized loss position | 52,685,000 | 49,940,000 |
Securities available for sale, continuous unrealized loss position, unrealized loss | 304,000 | 218,000 |
Municipal General Obligation Bonds [Member] | ||
2,015 | ||
Securities available for sale, continuous unrealized loss position, less than 12 months | 1,981,000 | 54,104,000 |
Securities available for sale, continuous unrealized loss position, less than 12 months, unrealized loss | 4,000 | 307,000 |
Securities available for sale, continuous unrealized loss position, 12 months or more | 30,134,000 | 0 |
Securities available for sale, continuous unrealized loss position, 12 months or more, unrealized loss | 201,000 | 0 |
Securities available for sale, continuous unrealized loss position | 32,115,000 | 54,104,000 |
Securities available for sale, continuous unrealized loss position, unrealized loss | 205,000 | 307,000 |
Municipal Revenue Bonds [Member] | ||
2,015 | ||
Securities available for sale, continuous unrealized loss position, less than 12 months | 0 | 4,644,000 |
Securities available for sale, continuous unrealized loss position, less than 12 months, unrealized loss | 0 | 13,000 |
Securities available for sale, continuous unrealized loss position, 12 months or more | 1,134,000 | 0 |
Securities available for sale, continuous unrealized loss position, 12 months or more, unrealized loss | 3,000 | 0 |
Securities available for sale, continuous unrealized loss position | 1,134,000 | 4,644,000 |
Securities available for sale, continuous unrealized loss position, unrealized loss | 3,000 | 13,000 |
Other Debt Obligations [Member] | ||
2,015 | ||
Securities available for sale, continuous unrealized loss position, less than 12 months | 1,446,000 | 0 |
Securities available for sale, continuous unrealized loss position, less than 12 months, unrealized loss | 5,000 | 0 |
Securities available for sale, continuous unrealized loss position, 12 months or more | 0 | 0 |
Securities available for sale, continuous unrealized loss position, 12 months or more, unrealized loss | 0 | 0 |
Securities available for sale, continuous unrealized loss position | 1,446,000 | 0 |
Securities available for sale, continuous unrealized loss position, unrealized loss | $ 5,000 | $ 0 |
Note 3 - Securities (Details)66
Note 3 - Securities (Details) - Debt Securities by Maturity | Dec. 31, 2015USD ($) |
Note 3 - Securities (Details) - Debt Securities by Maturity [Line Items] | |
Due in one year or less | 0.89% |
Due in one year or less | $ 40,382,000 |
Due in one year or less | $ 40,399,000 |
Due from one to five years | 1.67% |
Due from one to five years | $ 110,364,000 |
Due from one to five years | $ 110,552,000 |
Due from five to ten years | 3.09% |
Due from five to ten years | $ 54,022,000 |
Due from five to ten years | $ 54,868,000 |
Due after ten years | 3.55% |
Due after ten years | $ 71,412,000 |
Due after ten years | $ 72,158,000 |
2.22% | |
$ 344,796,000 | |
$ 346,992,000 | |
Collateralized Mortgage Backed Securities [Member] | |
Note 3 - Securities (Details) - Debt Securities by Maturity [Line Items] | |
No single maturity, weighted average yield | 1.75% |
No single maturity, amortized cost | $ 66,670,000 |
No single maturity, fair value | $ 67,074,000 |
Other Debt Obligations [Member] | |
Note 3 - Securities (Details) - Debt Securities by Maturity [Line Items] | |
No single maturity, weighted average yield | 2.51% |
No single maturity, amortized cost | $ 1,946,000 |
No single maturity, fair value | $ 1,941,000 |
Note 4 - Loans and Allowance 67
Note 4 - Loans and Allowance for Loan Losses (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Receivables [Abstract] | |||
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Outstanding Balance | $ 24.6 | $ 31.4 | |
Certain Loans Acquired in Transfer Not Accounted for as Debt Securities, Carrying Amount, Net | 13.1 | 18.6 | |
Impaired Financing Receivable, Interest Income, Accrual Method | 2.4 | 1.8 | $ 2.5 |
Impaired Financing Receivable, Interest Income, Cash Basis Method | 1.7 | 0 | 1.9 |
Loans and Leases Receivable, Impaired, Interest Lost on Nonaccrual Loans | $ 0.3 | $ 0.1 | $ 0.4 |
Minimum Number of Days Past Due at Period End for Loans Modified as Troubled Debt Restructurings | 30 days |
Note 4 - Loans and Allowance 68
Note 4 - Loans and Allowance for Loan Losses (Details) - Components of Loan Portfolio - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance of loans outstanding (in Dollars) | $ 2,277,727,000 | $ 2,089,277,000 | |
Percent of portfolio | 100.00% | 100.00% | |
Period increase (decrease) | 9.00% | ||
Originated Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance of loans outstanding (in Dollars) | $ 1,616,587,000 | $ 1,246,116,000 | $ 1,053,243,000 |
Percent of portfolio | 100.00% | 100.00% | |
Period increase (decrease) | 29.70% | ||
Acquired Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance of loans outstanding (in Dollars) | $ 661,140,000 | $ 843,161,000 | |
Percent of portfolio | 100.00% | 100.00% | |
Period increase (decrease) | (21.60%) | ||
Commercial Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance of loans outstanding (in Dollars) | $ 1,946,696,000 | $ 1,715,303,000 | |
Percent of portfolio | 85.50% | 82.10% | |
Period increase (decrease) | 13.50% | ||
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance of loans outstanding (in Dollars) | $ 696,303,000 | $ 550,607,000 | |
Percent of portfolio | 30.60% | 26.40% | |
Period increase (decrease) | 26.50% | ||
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance of loans outstanding (in Dollars) | $ 45,120,000 | $ 51,974,000 | |
Percent of portfolio | 2.00% | 2.50% | |
Period increase (decrease) | (13.20%) | ||
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance of loans outstanding (in Dollars) | $ 445,919,000 | $ 430,388,000 | |
Percent of portfolio | 19.60% | 20.50% | |
Period increase (decrease) | 3.60% | ||
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance of loans outstanding (in Dollars) | $ 644,351,000 | $ 559,574,000 | |
Percent of portfolio | 28.30% | 26.80% | |
Period increase (decrease) | 15.20% | ||
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance of loans outstanding (in Dollars) | $ 115,003,000 | $ 122,760,000 | |
Percent of portfolio | 5.00% | 5.90% | |
Period increase (decrease) | (6.30%) | ||
Commercial Portfolio Segment [Member] | Originated Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance of loans outstanding (in Dollars) | $ 1,493,516,000 | $ 1,153,189,000 | 986,696,000 |
Percent of portfolio | 92.40% | 92.50% | |
Period increase (decrease) | 29.50% | ||
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Commercial and Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance of loans outstanding (in Dollars) | $ 577,872,000 | $ 384,570,000 | |
Percent of portfolio | 35.70% | 30.80% | |
Period increase (decrease) | 50.30% | ||
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance of loans outstanding (in Dollars) | $ 30,138,000 | $ 29,826,000 | |
Percent of portfolio | 1.90% | 2.40% | |
Period increase (decrease) | 1.00% | ||
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Owner Occupied Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance of loans outstanding (in Dollars) | $ 330,798,000 | $ 291,758,000 | |
Percent of portfolio | 20.50% | 23.40% | |
Period increase (decrease) | 13.40% | ||
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance of loans outstanding (in Dollars) | $ 520,754,000 | $ 410,977,000 | |
Percent of portfolio | 32.20% | 33.00% | |
Period increase (decrease) | 26.70% | ||
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance of loans outstanding (in Dollars) | $ 33,954,000 | $ 36,058,000 | |
Percent of portfolio | 2.10% | 2.90% | |
Period increase (decrease) | (5.80%) | ||
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance of loans outstanding (in Dollars) | $ 453,180,000 | $ 562,114,000 | |
Percent of portfolio | 68.60% | 66.60% | |
Period increase (decrease) | (19.40%) | ||
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Commercial and Industrial [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance of loans outstanding (in Dollars) | $ 118,431,000 | $ 166,037,000 | |
Percent of portfolio | 17.90% | 19.70% | |
Period increase (decrease) | (28.70%) | ||
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance of loans outstanding (in Dollars) | $ 14,982,000 | $ 22,148,000 | |
Percent of portfolio | 2.30% | 2.60% | |
Period increase (decrease) | (32.40%) | ||
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Owner Occupied Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance of loans outstanding (in Dollars) | $ 115,121,000 | $ 138,630,000 | |
Percent of portfolio | 17.40% | 16.40% | |
Period increase (decrease) | (17.00%) | ||
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance of loans outstanding (in Dollars) | $ 123,597,000 | $ 148,597,000 | |
Percent of portfolio | 18.70% | 17.60% | |
Period increase (decrease) | (16.80%) | ||
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance of loans outstanding (in Dollars) | $ 81,049,000 | $ 86,702,000 | |
Percent of portfolio | 12.30% | 10.30% | |
Period increase (decrease) | (6.50%) | ||
Retail Portfolio Segment [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance of loans outstanding (in Dollars) | $ 331,031,000 | $ 373,974,000 | |
Percent of portfolio | 14.50% | 17.90% | |
Period increase (decrease) | (11.50%) | ||
Retail Portfolio Segment [Member] | Home Equity and Other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance of loans outstanding (in Dollars) | $ 140,646,000 | $ 159,278,000 | |
Percent of portfolio | 6.20% | 7.60% | |
Period increase (decrease) | (11.70%) | ||
Retail Portfolio Segment [Member] | 1-4 Family Mortgages [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance of loans outstanding (in Dollars) | $ 190,385,000 | $ 214,696,000 | |
Percent of portfolio | 8.30% | 10.30% | |
Period increase (decrease) | (11.30%) | ||
Retail Portfolio Segment [Member] | Originated Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance of loans outstanding (in Dollars) | $ 123,071,000 | $ 92,927,000 | $ 66,547,000 |
Percent of portfolio | 7.60% | 7.50% | |
Period increase (decrease) | 32.40% | ||
Retail Portfolio Segment [Member] | Originated Loan [Member] | Home Equity and Other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance of loans outstanding (in Dollars) | $ 67,816,000 | $ 50,059,000 | |
Percent of portfolio | 4.20% | 4.00% | |
Period increase (decrease) | 35.50% | ||
Retail Portfolio Segment [Member] | Originated Loan [Member] | 1-4 Family Mortgages [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance of loans outstanding (in Dollars) | $ 55,255,000 | $ 42,868,000 | |
Percent of portfolio | 3.40% | 3.50% | |
Period increase (decrease) | 28.90% | ||
Retail Portfolio Segment [Member] | Acquired Loan [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance of loans outstanding (in Dollars) | $ 207,960,000 | $ 281,047,000 | |
Percent of portfolio | 31.40% | 33.40% | |
Period increase (decrease) | (26.00%) | ||
Retail Portfolio Segment [Member] | Acquired Loan [Member] | Home Equity and Other [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance of loans outstanding (in Dollars) | $ 72,830,000 | $ 109,219,000 | |
Percent of portfolio | 11.00% | 13.00% | |
Period increase (decrease) | (33.30%) | ||
Retail Portfolio Segment [Member] | Acquired Loan [Member] | 1-4 Family Mortgages [Member] | |||
Accounts, Notes, Loans and Financing Receivable [Line Items] | |||
Balance of loans outstanding (in Dollars) | $ 135,130,000 | $ 171,828,000 | |
Percent of portfolio | 20.40% | 20.40% | |
Period increase (decrease) | (21.40%) |
Note 4 - Loans and Allowance 69
Note 4 - Loans and Allowance for Loan Losses (Details) - Acquired Impaired Loans Accretable Yield - USD ($) | 7 Months Ended | 12 Months Ended | |
Dec. 31, 2014 | Dec. 31, 2015 | ||
Acquired Impaired Loans Accretable Yield [Abstract] | |||
Beginning Balance | $ 0 | $ 4,998,000 | |
Additions | 2,514,000 | 26,000 | |
Accretion income | (786,000) | (2,607,000) | |
Net reclassification from nonaccretable to accretable | 3,537,000 | 4,272,000 | |
Reductions | [1] | (267,000) | (1,496,000) |
Ending balance | $ 4,998,000 | $ 5,193,000 | |
[1] | Reductions primarily reflect the result of exit events, including loan payoffs and charge-offs. |
Note 4 - Loans and Allowance 70
Note 4 - Loans and Allowance for Loan Losses (Details) - Concentrations Within the Loan Portfolio - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Note 4 - Loans and Allowance for Loan Losses (Details) - Concentrations Within the Loan Portfolio [Line Items] | ||
Commercial real estate loans to lessors of non-residential buildings | $ 2,277,727,000 | $ 2,089,277,000 |
Commercial Real Estate Loans to Lessors of Non Residential Buildings [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Concentrations Within the Loan Portfolio [Line Items] | ||
Commercial real estate loans to lessors of non-residential buildings | $ 506,721,000 | $ 480,170,000 |
Commercial real estate loans to lessors of non-residential buildings | 22.20% | 23.00% |
Note 4 - Loans and Allowance 71
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonperforming Loans - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Nonperforming Financial Instruments [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonperforming Loans [Line Items] | ||
Total nonperforming loans | $ 5,444,000 | $ 29,434,000 |
Total nonperforming loans | 5,444,000 | 29,434,000 |
Originated Loan [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonperforming Loans [Line Items] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Originated Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonperforming Loans [Line Items] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Nonaccrual loans | 1,954,000 | 26,049,000 |
Total nonperforming loans | 1,954,000 | 26,049,000 |
Total nonperforming loans | 1,954,000 | 26,049,000 |
Acquired Loan [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonperforming Loans [Line Items] | ||
Loans past due 90 days or more still accruing interest | 5,000 | 26,000 |
Acquired Loan [Member] | Nonperforming Financial Instruments [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonperforming Loans [Line Items] | ||
Loans past due 90 days or more still accruing interest | 5,000 | 26,000 |
Nonaccrual loans | 3,485,000 | 3,359,000 |
Total nonperforming loans | 3,490,000 | 3,385,000 |
Total nonperforming loans | 3,490,000 | 3,385,000 |
Commercial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonperforming Loans [Line Items] | ||
Total nonperforming loans | 2,646,000 | 25,234,000 |
Total nonperforming loans | 2,646,000 | 25,234,000 |
Commercial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Commercial and Industrial [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonperforming Loans [Line Items] | ||
Total nonperforming loans | 458,000 | 6,478,000 |
Total nonperforming loans | 458,000 | 6,478,000 |
Commercial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonperforming Loans [Line Items] | ||
Total nonperforming loans | 155,000 | 209,000 |
Total nonperforming loans | 155,000 | 209,000 |
Commercial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Real Estate Owner Occupied Loan [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonperforming Loans [Line Items] | ||
Total nonperforming loans | 1,797,000 | 18,063,000 |
Total nonperforming loans | 1,797,000 | 18,063,000 |
Commercial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Real Estate Non Owner Occupied Loan [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonperforming Loans [Line Items] | ||
Total nonperforming loans | 79,000 | 378,000 |
Total nonperforming loans | 79,000 | 378,000 |
Commercial Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonperforming Loans [Line Items] | ||
Total nonperforming loans | 157,000 | 106,000 |
Total nonperforming loans | 157,000 | 106,000 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonperforming Loans [Line Items] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Commercial and Industrial [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonperforming Loans [Line Items] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonperforming Loans [Line Items] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Owner Occupied Loan [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonperforming Loans [Line Items] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonperforming Loans [Line Items] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonperforming Loans [Line Items] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonperforming Loans [Line Items] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Commercial and Industrial [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonperforming Loans [Line Items] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonperforming Loans [Line Items] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Owner Occupied Loan [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonperforming Loans [Line Items] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonperforming Loans [Line Items] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonperforming Loans [Line Items] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Retail Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonperforming Loans [Line Items] | ||
Total nonperforming loans | 2,798,000 | 4,200,000 |
Total nonperforming loans | 2,798,000 | 4,200,000 |
Retail Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | Home Equity and Other [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonperforming Loans [Line Items] | ||
Total nonperforming loans | 771,000 | 800,000 |
Total nonperforming loans | 771,000 | 800,000 |
Retail Portfolio Segment [Member] | Nonperforming Financial Instruments [Member] | 1-4 Family Mortgages [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonperforming Loans [Line Items] | ||
Total nonperforming loans | 2,027,000 | 3,400,000 |
Total nonperforming loans | 2,027,000 | 3,400,000 |
Retail Portfolio Segment [Member] | Originated Loan [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonperforming Loans [Line Items] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Retail Portfolio Segment [Member] | Originated Loan [Member] | Home Equity and Other [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonperforming Loans [Line Items] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Retail Portfolio Segment [Member] | Originated Loan [Member] | 1-4 Family Mortgages [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonperforming Loans [Line Items] | ||
Loans past due 90 days or more still accruing interest | 0 | 0 |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonperforming Loans [Line Items] | ||
Loans past due 90 days or more still accruing interest | 5,000 | 26,000 |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | Home Equity and Other [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonperforming Loans [Line Items] | ||
Loans past due 90 days or more still accruing interest | 5,000 | 26,000 |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | 1-4 Family Mortgages [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Nonperforming Loans [Line Items] | ||
Loans past due 90 days or more still accruing interest | $ 0 | $ 0 |
Note 4 - Loans and Allowance 72
Note 4 - Loans and Allowance for Loan Losses (Details) - Age Analysis of Past Due Loans - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Commercial: | |||
Loans | $ 2,277,727,000 | $ 2,089,277,000 | |
Originated Loan [Member] | |||
Commercial: | |||
Loans, past due | 1,293,000 | 643,000 | |
Loans, current | 1,615,294,000 | 1,245,473,000 | |
Loans | 1,616,587,000 | 1,246,116,000 | $ 1,053,243,000 |
Loans, recorded balance > 89 days and accruing | 0 | 0 | |
Originated Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 725,000 | 38,000 | |
Originated Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 203,000 | 3,000 | |
Originated Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 365,000 | 602,000 | |
Acquired Loan [Member] | |||
Commercial: | |||
Loans, past due | 5,772,000 | 6,743,000 | |
Loans, current | 655,368,000 | 836,418,000 | |
Loans | 661,140,000 | 843,161,000 | |
Loans, recorded balance > 89 days and accruing | 5,000 | 26,000 | |
Acquired Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 1,981,000 | 1,717,000 | |
Acquired Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 1,585,000 | 1,920,000 | |
Acquired Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 2,206,000 | 3,106,000 | |
Commercial Portfolio Segment [Member] | |||
Commercial: | |||
Loans | 1,946,696,000 | 1,715,303,000 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Commercial: | |||
Loans | 696,303,000 | 550,607,000 | |
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Commercial: | |||
Loans | 45,120,000 | 51,974,000 | |
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | |||
Commercial: | |||
Loans | 445,919,000 | 430,388,000 | |
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Commercial: | |||
Loans | 644,351,000 | 559,574,000 | |
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||
Commercial: | |||
Loans | 115,003,000 | 122,760,000 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | |||
Commercial: | |||
Loans, past due | 441,000 | 236,000 | |
Loans, current | 1,493,075,000 | 1,152,953,000 | |
Loans | 1,493,516,000 | 1,153,189,000 | 986,696,000 |
Loans, recorded balance > 89 days and accruing | 0 | 0 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 432,000 | 0 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 0 | 0 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 9,000 | 236,000 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Commercial and Industrial [Member] | |||
Commercial: | |||
Loans, past due | 0 | 0 | |
Loans, current | 577,872,000 | 384,570,000 | |
Loans | 577,872,000 | 384,570,000 | |
Loans, recorded balance > 89 days and accruing | 0 | 0 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Commercial and Industrial [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 0 | 0 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Commercial and Industrial [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 0 | 0 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Commercial and Industrial [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 0 | 0 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Commercial: | |||
Loans, past due | 0 | 0 | |
Loans, current | 30,138,000 | 29,826,000 | |
Loans | 30,138,000 | 29,826,000 | |
Loans, recorded balance > 89 days and accruing | 0 | 0 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 0 | 0 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 0 | 0 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 0 | 0 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Owner Occupied Loan [Member] | |||
Commercial: | |||
Loans, past due | 441,000 | 120,000 | |
Loans, current | 330,357,000 | 291,638,000 | |
Loans | 330,798,000 | 291,758,000 | |
Loans, recorded balance > 89 days and accruing | 0 | 0 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Owner Occupied Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 432,000 | 0 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Owner Occupied Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 0 | 0 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Owner Occupied Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 9,000 | 120,000 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Commercial: | |||
Loans, past due | 0 | 116,000 | |
Loans, current | 520,754,000 | 410,861,000 | |
Loans | 520,754,000 | 410,977,000 | |
Loans, recorded balance > 89 days and accruing | 0 | 0 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 0 | 0 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 0 | 0 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 0 | 116,000 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||
Commercial: | |||
Loans, past due | 0 | 0 | |
Loans, current | 33,954,000 | 36,058,000 | |
Loans | 33,954,000 | 36,058,000 | |
Loans, recorded balance > 89 days and accruing | 0 | 0 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 0 | 0 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 0 | 0 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 0 | 0 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | |||
Commercial: | |||
Loans, past due | 3,575,000 | 3,479,000 | |
Loans, current | 449,605,000 | 558,635,000 | |
Loans | 453,180,000 | 562,114,000 | |
Loans, recorded balance > 89 days and accruing | 0 | 0 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 626,000 | 185,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 1,187,000 | 1,093,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 1,762,000 | 2,201,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Commercial and Industrial [Member] | |||
Commercial: | |||
Loans, past due | 546,000 | 137,000 | |
Loans, current | 117,885,000 | 165,900,000 | |
Loans | 118,431,000 | 166,037,000 | |
Loans, recorded balance > 89 days and accruing | 0 | 0 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Commercial and Industrial [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 0 | 29,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Commercial and Industrial [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 5,000 | 32,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Commercial and Industrial [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 541,000 | 76,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Commercial: | |||
Loans, past due | 27,000 | 38,000 | |
Loans, current | 14,955,000 | 22,110,000 | |
Loans | 14,982,000 | 22,148,000 | |
Loans, recorded balance > 89 days and accruing | 0 | 0 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 27,000 | 0 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 0 | 38,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 0 | 0 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Owner Occupied Loan [Member] | |||
Commercial: | |||
Loans, past due | 1,890,000 | 2,101,000 | |
Loans, current | 113,231,000 | 136,529,000 | |
Loans | 115,121,000 | 138,630,000 | |
Loans, recorded balance > 89 days and accruing | 0 | 0 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Owner Occupied Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 323,000 | 51,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Owner Occupied Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 425,000 | 425,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Owner Occupied Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 1,142,000 | 1,625,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Commercial: | |||
Loans, past due | 835,000 | 1,061,000 | |
Loans, current | 122,762,000 | 147,536,000 | |
Loans | 123,597,000 | 148,597,000 | |
Loans, recorded balance > 89 days and accruing | 0 | 0 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 53,000 | 68,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 703,000 | 598,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 79,000 | 395,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||
Commercial: | |||
Loans, past due | 277,000 | 142,000 | |
Loans, current | 80,772,000 | 86,560,000 | |
Loans | 81,049,000 | 86,702,000 | |
Loans, recorded balance > 89 days and accruing | 0 | 0 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 223,000 | 37,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 54,000 | 0 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 0 | 105,000 | |
Retail Portfolio Segment [Member] | |||
Commercial: | |||
Loans | 331,031,000 | 373,974,000 | |
Retail Portfolio Segment [Member] | Home Equity and Other [Member] | |||
Commercial: | |||
Loans | 140,646,000 | 159,278,000 | |
Retail Portfolio Segment [Member] | 1-4 Family Mortgages [Member] | |||
Commercial: | |||
Loans | 190,385,000 | 214,696,000 | |
Retail Portfolio Segment [Member] | Originated Loan [Member] | |||
Commercial: | |||
Loans, past due | 852,000 | 407,000 | |
Loans, current | 122,219,000 | 92,520,000 | |
Loans | 123,071,000 | 92,927,000 | $ 66,547,000 |
Loans, recorded balance > 89 days and accruing | 0 | 0 | |
Retail Portfolio Segment [Member] | Originated Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 293,000 | 38,000 | |
Retail Portfolio Segment [Member] | Originated Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 203,000 | 3,000 | |
Retail Portfolio Segment [Member] | Originated Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 356,000 | 366,000 | |
Retail Portfolio Segment [Member] | Originated Loan [Member] | Home Equity and Other [Member] | |||
Commercial: | |||
Loans, past due | 294,000 | 41,000 | |
Loans, current | 67,522,000 | 50,018,000 | |
Loans | 67,816,000 | 50,059,000 | |
Loans, recorded balance > 89 days and accruing | 0 | 0 | |
Retail Portfolio Segment [Member] | Originated Loan [Member] | Home Equity and Other [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 186,000 | 38,000 | |
Retail Portfolio Segment [Member] | Originated Loan [Member] | Home Equity and Other [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 108,000 | 3,000 | |
Retail Portfolio Segment [Member] | Originated Loan [Member] | Home Equity and Other [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 0 | 0 | |
Retail Portfolio Segment [Member] | Originated Loan [Member] | 1-4 Family Mortgages [Member] | |||
Commercial: | |||
Loans, past due | 558,000 | 366,000 | |
Loans, current | 54,697,000 | 42,502,000 | |
Loans | 55,255,000 | 42,868,000 | |
Loans, recorded balance > 89 days and accruing | 0 | 0 | |
Retail Portfolio Segment [Member] | Originated Loan [Member] | 1-4 Family Mortgages [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 107,000 | 0 | |
Retail Portfolio Segment [Member] | Originated Loan [Member] | 1-4 Family Mortgages [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 95,000 | 0 | |
Retail Portfolio Segment [Member] | Originated Loan [Member] | 1-4 Family Mortgages [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 356,000 | 366,000 | |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | |||
Commercial: | |||
Loans, past due | 2,197,000 | 3,264,000 | |
Loans, current | 205,763,000 | 277,783,000 | |
Loans | 207,960,000 | 281,047,000 | |
Loans, recorded balance > 89 days and accruing | 5,000 | 26,000 | |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 1,355,000 | 1,532,000 | |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 398,000 | 827,000 | |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 444,000 | 905,000 | |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | Home Equity and Other [Member] | |||
Commercial: | |||
Loans, past due | 467,000 | 1,019,000 | |
Loans, current | 72,363,000 | 108,200,000 | |
Loans | 72,830,000 | 109,219,000 | |
Loans, recorded balance > 89 days and accruing | 5,000 | 26,000 | |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | Home Equity and Other [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 395,000 | 445,000 | |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | Home Equity and Other [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 44,000 | 419,000 | |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | Home Equity and Other [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 28,000 | 155,000 | |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | 1-4 Family Mortgages [Member] | |||
Commercial: | |||
Loans, past due | 1,730,000 | 2,245,000 | |
Loans, current | 133,400,000 | 169,583,000 | |
Loans | 135,130,000 | 171,828,000 | |
Loans, recorded balance > 89 days and accruing | 0 | 0 | |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | 1-4 Family Mortgages [Member] | Financing Receivables, 30 to 59 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 960,000 | 1,087,000 | |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | 1-4 Family Mortgages [Member] | Financing Receivables, 60 to 89 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | 354,000 | 408,000 | |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | 1-4 Family Mortgages [Member] | Financing Receivables, Equal to Greater than 90 Days Past Due [Member] | |||
Commercial: | |||
Loans, past due | $ 416,000 | $ 750,000 |
Note 4 - Loans and Allowance 73
Note 4 - Loans and Allowance for Loan Losses (Details) - Impaired Loans - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Originated Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal balance, with no related allowance | $ 9,259,000 | $ 8,255,000 |
Recorded principal balance, with no related allowance | 8,364,000 | 5,552,000 |
Average recorded principal balance, with no related allowance | 7,370,000 | 7,381,000 |
Unpaid contractual principal balance, with a related allowance | 14,870,000 | 42,757,000 |
Recorded principal balance, with a related allowance | 9,833,000 | 42,304,000 |
Related allowance | 1,474,000 | 10,152,000 |
Average recorded principal balance, with a related allowance | 22,800,000 | 32,806,000 |
Upaid contractual principal balance | 24,129,000 | 51,012,000 |
Recorded principal balance | 18,197,000 | 47,856,000 |
Average recorded principal balance | 30,170,000 | 40,187,000 |
Acquired Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal balance, with no related allowance | 7,368,000 | 4,019,000 |
Recorded principal balance, with no related allowance | 6,588,000 | 4,010,000 |
Average recorded principal balance, with no related allowance | 5,741,000 | 1,761,000 |
Unpaid contractual principal balance, with a related allowance | 632,000 | 1,516,000 |
Recorded principal balance, with a related allowance | 625,000 | 1,502,000 |
Related allowance | 112,000 | 605,000 |
Average recorded principal balance, with a related allowance | 1,156,000 | 501,000 |
Upaid contractual principal balance | 8,000,000 | 5,535,000 |
Recorded principal balance | 7,213,000 | 5,512,000 |
Average recorded principal balance | 6,897,000 | 2,262,000 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal balance, with no related allowance | 7,917,000 | 6,904,000 |
Recorded principal balance, with no related allowance | 7,702,000 | 4,801,000 |
Average recorded principal balance, with no related allowance | 6,580,000 | 6,279,000 |
Unpaid contractual principal balance, with a related allowance | 14,105,000 | 40,448,000 |
Recorded principal balance, with a related allowance | 9,143,000 | 40,220,000 |
Related allowance | 1,218,000 | 9,374,000 |
Average recorded principal balance, with a related allowance | 22,035,000 | 30,563,000 |
Upaid contractual principal balance | 22,022,000 | 47,352,000 |
Recorded principal balance | 16,845,000 | 45,021,000 |
Average recorded principal balance | 28,615,000 | 36,842,000 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal balance, with no related allowance | 1,509,000 | 1,170,000 |
Recorded principal balance, with no related allowance | 1,501,000 | 1,164,000 |
Average recorded principal balance, with no related allowance | 1,683,000 | 652,000 |
Unpaid contractual principal balance, with a related allowance | 352,000 | 5,299,000 |
Recorded principal balance, with a related allowance | 305,000 | 5,226,000 |
Related allowance | 165,000 | 1,578,000 |
Average recorded principal balance, with a related allowance | 2,314,000 | 2,759,000 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal balance, with no related allowance | 0 | 540,000 |
Recorded principal balance, with no related allowance | 0 | 209,000 |
Average recorded principal balance, with no related allowance | 81,000 | 227,000 |
Unpaid contractual principal balance, with a related allowance | 2,017,000 | 2,000,000 |
Recorded principal balance, with a related allowance | 1,655,000 | 2,000,000 |
Related allowance | 245,000 | 151,000 |
Average recorded principal balance, with a related allowance | 1,952,000 | 3,229,000 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Owner Occupied Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal balance, with no related allowance | 712,000 | 3,609,000 |
Recorded principal balance, with no related allowance | 505,000 | 1,901,000 |
Average recorded principal balance, with no related allowance | 927,000 | 4,365,000 |
Unpaid contractual principal balance, with a related allowance | 5,867,000 | 15,745,000 |
Recorded principal balance, with a related allowance | 1,314,000 | 15,674,000 |
Related allowance | 242,000 | 2,200,000 |
Average recorded principal balance, with a related allowance | 7,285,000 | 4,630,000 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal balance, with no related allowance | 5,696,000 | 1,210,000 |
Recorded principal balance, with no related allowance | 5,696,000 | 1,210,000 |
Average recorded principal balance, with no related allowance | 3,703,000 | 971,000 |
Unpaid contractual principal balance, with a related allowance | 4,841,000 | 16,033,000 |
Recorded principal balance, with a related allowance | 4,841,000 | 15,949,000 |
Related allowance | 201,000 | 4,779,000 |
Average recorded principal balance, with a related allowance | 9,265,000 | 18,245,000 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal balance, with no related allowance | 0 | 375,000 |
Recorded principal balance, with no related allowance | 0 | 317,000 |
Average recorded principal balance, with no related allowance | 186,000 | 64,000 |
Unpaid contractual principal balance, with a related allowance | 1,028,000 | 1,371,000 |
Recorded principal balance, with a related allowance | 1,028,000 | 1,371,000 |
Related allowance | 365,000 | 666,000 |
Average recorded principal balance, with a related allowance | 1,219,000 | 1,700,000 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal balance, with no related allowance | 5,093,000 | 2,512,000 |
Recorded principal balance, with no related allowance | 4,730,000 | 2,505,000 |
Average recorded principal balance, with no related allowance | 4,347,000 | 1,041,000 |
Unpaid contractual principal balance, with a related allowance | 457,000 | 1,516,000 |
Recorded principal balance, with a related allowance | 450,000 | 1,502,000 |
Related allowance | 106,000 | 605,000 |
Average recorded principal balance, with a related allowance | 971,000 | 501,000 |
Upaid contractual principal balance | 5,550,000 | 4,028,000 |
Recorded principal balance | 5,180,000 | 4,007,000 |
Average recorded principal balance | 5,318,000 | 1,542,000 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal balance, with no related allowance | 1,528,000 | 1,586,000 |
Recorded principal balance, with no related allowance | 1,494,000 | 1,579,000 |
Average recorded principal balance, with no related allowance | 1,444,000 | 563,000 |
Unpaid contractual principal balance, with a related allowance | 383,000 | 0 |
Recorded principal balance, with a related allowance | 376,000 | 0 |
Related allowance | 102,000 | 0 |
Average recorded principal balance, with a related allowance | 127,000 | 0 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal balance, with no related allowance | 0 | 0 |
Recorded principal balance, with no related allowance | 0 | 0 |
Average recorded principal balance, with no related allowance | 0 | 0 |
Unpaid contractual principal balance, with a related allowance | 0 | 0 |
Recorded principal balance, with a related allowance | 0 | 0 |
Related allowance | 0 | 0 |
Average recorded principal balance, with a related allowance | 0 | 0 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Owner Occupied Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal balance, with no related allowance | 2,233,000 | 113,000 |
Recorded principal balance, with no related allowance | 1,952,000 | 113,000 |
Average recorded principal balance, with no related allowance | 818,000 | 52,000 |
Unpaid contractual principal balance, with a related allowance | 51,000 | 1,516,000 |
Recorded principal balance, with a related allowance | 51,000 | 1,502,000 |
Related allowance | 4,000 | 605,000 |
Average recorded principal balance, with a related allowance | 823,000 | 501,000 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal balance, with no related allowance | 880,000 | 326,000 |
Recorded principal balance, with no related allowance | 880,000 | 326,000 |
Average recorded principal balance, with no related allowance | 565,000 | 260,000 |
Unpaid contractual principal balance, with a related allowance | 0 | 0 |
Recorded principal balance, with a related allowance | 0 | 0 |
Related allowance | 0 | 0 |
Average recorded principal balance, with a related allowance | 0 | 0 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal balance, with no related allowance | 452,000 | 487,000 |
Recorded principal balance, with no related allowance | 404,000 | 487,000 |
Average recorded principal balance, with no related allowance | 1,520,000 | 166,000 |
Unpaid contractual principal balance, with a related allowance | 23,000 | 0 |
Recorded principal balance, with a related allowance | 23,000 | 0 |
Related allowance | 0 | 0 |
Average recorded principal balance, with a related allowance | 21,000 | 0 |
Retail Portfolio Segment [Member] | Originated Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal balance, with no related allowance | 1,342,000 | 1,351,000 |
Recorded principal balance, with no related allowance | 662,000 | 751,000 |
Average recorded principal balance, with no related allowance | 790,000 | 1,102,000 |
Unpaid contractual principal balance, with a related allowance | 765,000 | 2,309,000 |
Recorded principal balance, with a related allowance | 690,000 | 2,084,000 |
Related allowance | 256,000 | 778,000 |
Average recorded principal balance, with a related allowance | 765,000 | 2,243,000 |
Upaid contractual principal balance | 2,107,000 | 3,660,000 |
Recorded principal balance | 1,352,000 | 2,835,000 |
Average recorded principal balance | 1,555,000 | 3,345,000 |
Retail Portfolio Segment [Member] | Originated Loan [Member] | Home Equity and Other [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal balance, with no related allowance | 14,000 | 207,000 |
Recorded principal balance, with no related allowance | 5,000 | 191,000 |
Average recorded principal balance, with no related allowance | 153,000 | 517,000 |
Unpaid contractual principal balance, with a related allowance | 600,000 | 115,000 |
Recorded principal balance, with a related allowance | 562,000 | 84,000 |
Related allowance | 209,000 | 84,000 |
Average recorded principal balance, with a related allowance | 227,000 | 128,000 |
Retail Portfolio Segment [Member] | Originated Loan [Member] | 1-4 Family Mortgages [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal balance, with no related allowance | 1,328,000 | 1,144,000 |
Recorded principal balance, with no related allowance | 657,000 | 560,000 |
Average recorded principal balance, with no related allowance | 637,000 | 585,000 |
Unpaid contractual principal balance, with a related allowance | 165,000 | 2,194,000 |
Recorded principal balance, with a related allowance | 128,000 | 2,000,000 |
Related allowance | 47,000 | 694,000 |
Average recorded principal balance, with a related allowance | 538,000 | 2,115,000 |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal balance, with no related allowance | 2,275,000 | 1,507,000 |
Recorded principal balance, with no related allowance | 1,858,000 | 1,505,000 |
Average recorded principal balance, with no related allowance | 1,394,000 | 720,000 |
Unpaid contractual principal balance, with a related allowance | 175,000 | 0 |
Recorded principal balance, with a related allowance | 175,000 | 0 |
Related allowance | 6,000 | 0 |
Average recorded principal balance, with a related allowance | 185,000 | 0 |
Upaid contractual principal balance | 2,450,000 | 1,507,000 |
Recorded principal balance | 2,033,000 | 1,505,000 |
Average recorded principal balance | 1,579,000 | 720,000 |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | Home Equity and Other [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal balance, with no related allowance | 471,000 | 641,000 |
Recorded principal balance, with no related allowance | 310,000 | 639,000 |
Average recorded principal balance, with no related allowance | 400,000 | 262,000 |
Unpaid contractual principal balance, with a related allowance | 0 | 0 |
Recorded principal balance, with a related allowance | 0 | 0 |
Related allowance | 0 | 0 |
Average recorded principal balance, with a related allowance | 0 | 0 |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | 1-4 Family Mortgages [Member] | ||
Financing Receivable, Impaired [Line Items] | ||
Unpaid contractual principal balance, with no related allowance | 1,804,000 | 866,000 |
Recorded principal balance, with no related allowance | 1,548,000 | 866,000 |
Average recorded principal balance, with no related allowance | 994,000 | 458,000 |
Unpaid contractual principal balance, with a related allowance | 175,000 | 0 |
Recorded principal balance, with a related allowance | 175,000 | 0 |
Related allowance | 6,000 | 0 |
Average recorded principal balance, with a related allowance | $ 185,000 | $ 0 |
Note 4 - Loans and Allowance 74
Note 4 - Loans and Allowance for Loan Losses (Details) - Loans by Credit Quality Indicators - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | $ 2,277,727,000 | $ 2,089,277,000 | |
Originated Loan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 1,616,587,000 | 1,246,116,000 | $ 1,053,243,000 |
Acquired Loan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 661,140,000 | 843,161,000 | |
Commercial Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 1,946,696,000 | 1,715,303,000 | |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 696,303,000 | 550,607,000 | |
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 45,120,000 | 51,974,000 | |
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 445,919,000 | 430,388,000 | |
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 644,351,000 | 559,574,000 | |
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 115,003,000 | 122,760,000 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 1,493,516,000 | 1,153,189,000 | $ 986,696,000 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Commercial and Industrial [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 577,872,000 | 384,570,000 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Commercial and Industrial [Member] | Grade 1 - 4 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 417,120,000 | 266,631,000 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Commercial and Industrial [Member] | Grade 5 - 7 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 160,454,000 | 109,639,000 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Commercial and Industrial [Member] | Grade 8 - 9 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 298,000 | 8,300,000 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 30,138,000 | 29,826,000 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | Grade 1 - 4 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 18,118,000 | 11,242,000 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | Grade 5 - 7 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 10,365,000 | 16,375,000 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | Grade 8 - 9 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 1,655,000 | 2,209,000 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Owner Occupied Loan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 330,798,000 | 291,758,000 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Owner Occupied Loan [Member] | Grade 1 - 4 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 230,629,000 | 190,656,000 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Owner Occupied Loan [Member] | Grade 5 - 7 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 98,332,000 | 83,123,000 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Owner Occupied Loan [Member] | Grade 8 - 9 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 1,837,000 | 17,979,000 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 520,754,000 | 410,977,000 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | Grade 1 - 4 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 400,350,000 | 285,035,000 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | Grade 5 - 7 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 120,404,000 | 113,982,000 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | Grade 8 - 9 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 0 | 11,960,000 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 33,954,000 | 36,058,000 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | Grade 1 - 4 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 19,121,000 | 12,394,000 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | Grade 5 - 7 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 13,806,000 | 22,282,000 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | Grade 8 - 9 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 1,027,000 | 1,382,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 453,180,000 | 562,114,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Commercial and Industrial [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 118,431,000 | 166,037,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Commercial and Industrial [Member] | Grade 1 - 4 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 67,978,000 | 72,411,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Commercial and Industrial [Member] | Grade 5 - 7 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 47,589,000 | 90,320,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Commercial and Industrial [Member] | Grade 8 - 9 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 2,864,000 | 3,306,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 14,982,000 | 22,148,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | Grade 1 - 4 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 3,095,000 | 5,875,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | Grade 5 - 7 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 11,364,000 | 14,472,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | Grade 8 - 9 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 523,000 | 1,801,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Owner Occupied Loan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 115,121,000 | 138,630,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Owner Occupied Loan [Member] | Grade 1 - 4 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 45,807,000 | 39,496,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Owner Occupied Loan [Member] | Grade 5 - 7 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 63,563,000 | 92,212,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Owner Occupied Loan [Member] | Grade 8 - 9 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 5,751,000 | 6,922,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 123,597,000 | 148,597,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | Grade 1 - 4 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 71,197,000 | 65,886,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | Grade 5 - 7 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 50,066,000 | 78,103,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | Grade 8 - 9 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 2,334,000 | 4,608,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 81,049,000 | 86,702,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | Grade 1 - 4 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 44,763,000 | 35,858,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | Grade 5 - 7 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 35,288,000 | 49,781,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | Grade 8 - 9 [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | $ 998,000 | $ 1,063,000 |
Note 4 - Loans and Allowance 75
Note 4 - Loans and Allowance for Loan Losses (Details) - Retail Credit Risk by Collateral Type - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | $ 2,277,727,000 | $ 2,089,277,000 | |
Originated Loan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 1,616,587,000 | 1,246,116,000 | $ 1,053,243,000 |
Acquired Loan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 661,140,000 | 843,161,000 | |
Retail Portfolio Segment [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 331,031,000 | 373,974,000 | |
Retail Portfolio Segment [Member] | Home Equity and Other [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 140,646,000 | 159,278,000 | |
Retail Portfolio Segment [Member] | 1-4 Family Mortgages [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 190,385,000 | 214,696,000 | |
Retail Portfolio Segment [Member] | Originated Loan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 123,071,000 | 92,927,000 | $ 66,547,000 |
Retail Portfolio Segment [Member] | Originated Loan [Member] | Home Equity and Other [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 67,816,000 | 50,059,000 | |
Retail Portfolio Segment [Member] | Originated Loan [Member] | 1-4 Family Mortgages [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 55,255,000 | 42,868,000 | |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 207,960,000 | 281,047,000 | |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | Home Equity and Other [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | 72,830,000 | 109,219,000 | |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | 1-4 Family Mortgages [Member] | |||
Financing Receivable, Recorded Investment [Line Items] | |||
Loans | $ 135,130,000 | $ 171,828,000 |
Note 4 - Loans and Allowance 76
Note 4 - Loans and Allowance for Loan Losses (Details) - Activity in Allowance for Loan Losses and the Recorded Investments in Loans - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Provision for loan losses | $ (1,000,000) | $ (3,000,000) | $ (7,200,000) |
Total loans: | |||
Loans | 2,277,727,000 | 2,089,277,000 | |
Originated Loan [Member] | |||
Total loans: | |||
Loans | 1,616,587,000 | ||
Loans: individually evaluated for impairment | 18,197,000 | ||
Loans: collectively evaluated for impairment | 1,598,390,000 | ||
Originated Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for loan losses | 19,299,000 | 22,821,000 | 28,677,000 |
Provision for loan losses | (701,000) | (3,793,000) | (7,200,000) |
Charge-offs | (6,195,000) | (1,430,000) | (5,290,000) |
Recoveries | 2,830,000 | 1,701,000 | 6,634,000 |
Allowance for loan losses | 15,233,000 | 19,299,000 | 22,821,000 |
Allowance for loan losses: individually evaluated for impairment | 1,474,000 | 10,152,000 | 12,386,000 |
Allowance for loan losses: collectively evaluated for impairment | 13,759,000 | 9,147,000 | 10,435,000 |
Total loans: | |||
Loans | 1,616,587,000 | 1,246,116,000 | 1,053,243,000 |
Loans: individually evaluated for impairment | 47,856,000 | 36,868,000 | |
Loans: collectively evaluated for impairment | 1,198,260,000 | 1,016,375,000 | |
Acquired Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for loan losses | 742,000 | 0 | |
Provision for loan losses | (299,000) | 793,000 | |
Charge-offs | (84,000) | (71,000) | |
Recoveries | 89,000 | 20,000 | |
Allowance for loan losses | 448,000 | 742,000 | 0 |
Total loans: | |||
Loans | 661,140,000 | 843,161,000 | |
Commercial Portfolio Segment [Member] | |||
Total loans: | |||
Loans | 1,946,696,000 | 1,715,303,000 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | |||
Total loans: | |||
Loans | 1,493,516,000 | ||
Loans: individually evaluated for impairment | 16,845,000 | ||
Loans: collectively evaluated for impairment | 1,476,671,000 | ||
Commercial Portfolio Segment [Member] | Originated Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for loan losses | 17,736,000 | 20,455,000 | 26,043,000 |
Provision for loan losses | (1,771,000) | (3,140,000) | (6,730,000) |
Charge-offs | (4,915,000) | (876,000) | (5,120,000) |
Recoveries | 2,622,000 | 1,297,000 | 6,262,000 |
Allowance for loan losses | 13,672,000 | 17,736,000 | 20,455,000 |
Allowance for loan losses: individually evaluated for impairment | 1,218,000 | 9,374,000 | 11,260,000 |
Allowance for loan losses: collectively evaluated for impairment | 12,454,000 | 8,362,000 | 9,195,000 |
Total loans: | |||
Loans | 1,493,516,000 | 1,153,189,000 | 986,696,000 |
Loans: individually evaluated for impairment | 45,021,000 | 33,240,000 | |
Loans: collectively evaluated for impairment | 1,108,168,000 | 953,456,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for loan losses | 681,000 | 0 | |
Provision for loan losses | (617,000) | 734,000 | |
Charge-offs | (77,000) | (55,000) | |
Recoveries | 45,000 | 2,000 | |
Allowance for loan losses | 32,000 | 681,000 | 0 |
Total loans: | |||
Loans | 453,180,000 | 562,114,000 | |
Retail Portfolio Segment [Member] | |||
Total loans: | |||
Loans | 331,031,000 | 373,974,000 | |
Retail Portfolio Segment [Member] | Originated Loan [Member] | |||
Total loans: | |||
Loans | 123,071,000 | ||
Loans: individually evaluated for impairment | 1,352,000 | ||
Loans: collectively evaluated for impairment | 121,719,000 | ||
Retail Portfolio Segment [Member] | Originated Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for loan losses | 1,487,000 | 2,358,000 | 2,645,000 |
Provision for loan losses | 1,006,000 | (721,000) | (489,000) |
Charge-offs | (1,280,000) | (554,000) | (170,000) |
Recoveries | 208,000 | 404,000 | 372,000 |
Allowance for loan losses | 1,421,000 | 1,487,000 | 2,358,000 |
Allowance for loan losses: individually evaluated for impairment | 256,000 | 778,000 | 1,126,000 |
Allowance for loan losses: collectively evaluated for impairment | 1,165,000 | 709,000 | 1,232,000 |
Total loans: | |||
Loans | 123,071,000 | 92,927,000 | 66,547,000 |
Loans: individually evaluated for impairment | 2,835,000 | 3,628,000 | |
Loans: collectively evaluated for impairment | 90,092,000 | 62,919,000 | |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for loan losses | 61,000 | 0 | |
Provision for loan losses | 318,000 | 59,000 | |
Charge-offs | (7,000) | (16,000) | |
Recoveries | 44,000 | 18,000 | |
Allowance for loan losses | 416,000 | 61,000 | 0 |
Total loans: | |||
Loans | 207,960,000 | 281,047,000 | |
Unallocated Financing Receivables [Member] | Originated Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for loan losses | 76,000 | 8,000 | (11,000) |
Provision for loan losses | 64,000 | 68,000 | 19,000 |
Charge-offs | 0 | 0 | 0 |
Recoveries | 0 | 0 | 0 |
Allowance for loan losses | 140,000 | 76,000 | 8,000 |
Allowance for loan losses: individually evaluated for impairment | 0 | 0 | 0 |
Allowance for loan losses: collectively evaluated for impairment | 140,000 | 76,000 | 8,000 |
Unallocated Financing Receivables [Member] | Acquired Loan [Member] | |||
Financing Receivable, Allowance for Credit Losses [Line Items] | |||
Allowance for loan losses | 0 | 0 | |
Provision for loan losses | 0 | 0 | |
Charge-offs | 0 | 0 | |
Recoveries | 0 | 0 | |
Allowance for loan losses | $ 0 | $ 0 | $ 0 |
Note 4 - Loans and Allowance 77
Note 4 - Loans and Allowance for Loan Losses (Details) - Loans Modified as Troubled Debt Restructurings | 12 Months Ended | |
Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Originated Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 10 | 5 |
Pre-Modification Recorded Principal Balance | $ 2,022,000 | $ 22,927,000 |
Post-Modification Recorded Principal Balance | $ 2,047,000 | $ 23,027,000 |
Acquired Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 20 | 16 |
Pre-Modification Recorded Principal Balance | $ 2,262,000 | $ 3,887,000 |
Post-Modification Recorded Principal Balance | $ 2,262,000 | $ 3,887,000 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 9 | 5 |
Pre-Modification Recorded Principal Balance | $ 1,876,000 | $ 22,927,000 |
Post-Modification Recorded Principal Balance | $ 1,901,000 | $ 23,027,000 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 9 | 2 |
Pre-Modification Recorded Principal Balance | $ 1,876,000 | $ 5,994,000 |
Post-Modification Recorded Principal Balance | $ 1,901,000 | $ 6,094,000 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 0 | 0 |
Pre-Modification Recorded Principal Balance | $ 0 | $ 0 |
Post-Modification Recorded Principal Balance | $ 0 | $ 0 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Owner Occupied Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 0 | 2 |
Pre-Modification Recorded Principal Balance | $ 0 | $ 16,787,000 |
Post-Modification Recorded Principal Balance | $ 0 | $ 16,787,000 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 0 | 1 |
Pre-Modification Recorded Principal Balance | $ 0 | $ 146,000 |
Post-Modification Recorded Principal Balance | $ 0 | $ 146,000 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 0 | 0 |
Pre-Modification Recorded Principal Balance | $ 0 | $ 0 |
Post-Modification Recorded Principal Balance | $ 0 | $ 0 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 19 | 14 |
Pre-Modification Recorded Principal Balance | $ 2,119,000 | $ 3,682,000 |
Post-Modification Recorded Principal Balance | $ 2,119,000 | $ 3,682,000 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Commercial and Industrial [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 3 | 7 |
Pre-Modification Recorded Principal Balance | $ 624,000 | $ 1,604,000 |
Post-Modification Recorded Principal Balance | $ 624,000 | $ 1,604,000 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 0 | 0 |
Pre-Modification Recorded Principal Balance | $ 0 | $ 0 |
Post-Modification Recorded Principal Balance | $ 0 | $ 0 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Owner Occupied Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 7 | 2 |
Pre-Modification Recorded Principal Balance | $ 494,000 | $ 1,619,000 |
Post-Modification Recorded Principal Balance | $ 494,000 | $ 1,619,000 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 5 | 1 |
Pre-Modification Recorded Principal Balance | $ 714,000 | $ 65,000 |
Post-Modification Recorded Principal Balance | $ 714,000 | $ 65,000 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 4 | 4 |
Pre-Modification Recorded Principal Balance | $ 287,000 | $ 394,000 |
Post-Modification Recorded Principal Balance | $ 287,000 | $ 394,000 |
Retail Portfolio Segment [Member] | Originated Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 1 | 0 |
Pre-Modification Recorded Principal Balance | $ 146,000 | $ 0 |
Post-Modification Recorded Principal Balance | $ 146,000 | $ 0 |
Retail Portfolio Segment [Member] | Originated Loan [Member] | Home Equity and Other [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 1 | 0 |
Pre-Modification Recorded Principal Balance | $ 146,000 | $ 0 |
Post-Modification Recorded Principal Balance | $ 146,000 | $ 0 |
Retail Portfolio Segment [Member] | Originated Loan [Member] | 1-4 Family Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 0 | 0 |
Pre-Modification Recorded Principal Balance | $ 0 | $ 0 |
Post-Modification Recorded Principal Balance | $ 0 | $ 0 |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 1 | 2 |
Pre-Modification Recorded Principal Balance | $ 143,000 | $ 205,000 |
Post-Modification Recorded Principal Balance | $ 143,000 | $ 205,000 |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | Home Equity and Other [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 0 | 1 |
Pre-Modification Recorded Principal Balance | $ 0 | $ 26,000 |
Post-Modification Recorded Principal Balance | $ 0 | $ 26,000 |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | 1-4 Family Mortgages [Member] | ||
Financing Receivable, Modifications [Line Items] | ||
Number of Contracts | 1 | 1 |
Pre-Modification Recorded Principal Balance | $ 143,000 | $ 179,000 |
Post-Modification Recorded Principal Balance | $ 143,000 | $ 179,000 |
Note 4 - Loans and Allowance 78
Note 4 - Loans and Allowance for Loan Losses (Details) - Loans Modified as Troubled Debt Restructurings within the Previous Twelve Months That Became Over 30 Days Past Due | 7 Months Ended | 12 Months Ended | |
Dec. 31, 2014USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | |
Originated Loan [Member] | |||
Note 4 - Loans and Allowance for Loan Losses (Details) - Loans Modified as Troubled Debt Restructurings within the Previous Twelve Months That Became Over 30 Days Past Due [Line Items] | |||
Number of Contracts | 0 | 0 | |
Recorded Principal Balance | $ 0 | $ 0 | |
Acquired Loan [Member] | |||
Note 4 - Loans and Allowance for Loan Losses (Details) - Loans Modified as Troubled Debt Restructurings within the Previous Twelve Months That Became Over 30 Days Past Due [Line Items] | |||
Number of Contracts | 0 | 1 | |
Recorded Principal Balance | $ 0 | $ 18,000 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | |||
Note 4 - Loans and Allowance for Loan Losses (Details) - Loans Modified as Troubled Debt Restructurings within the Previous Twelve Months That Became Over 30 Days Past Due [Line Items] | |||
Number of Contracts | 0 | 0 | |
Recorded Principal Balance | $ 0 | $ 0 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Commercial and Industrial [Member] | |||
Note 4 - Loans and Allowance for Loan Losses (Details) - Loans Modified as Troubled Debt Restructurings within the Previous Twelve Months That Became Over 30 Days Past Due [Line Items] | |||
Number of Contracts | 0 | 0 | |
Recorded Principal Balance | $ 0 | $ 0 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Note 4 - Loans and Allowance for Loan Losses (Details) - Loans Modified as Troubled Debt Restructurings within the Previous Twelve Months That Became Over 30 Days Past Due [Line Items] | |||
Number of Contracts | 0 | 0 | |
Recorded Principal Balance | $ 0 | $ 0 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Owner Occupied Loan [Member] | |||
Note 4 - Loans and Allowance for Loan Losses (Details) - Loans Modified as Troubled Debt Restructurings within the Previous Twelve Months That Became Over 30 Days Past Due [Line Items] | |||
Number of Contracts | 0 | 0 | |
Recorded Principal Balance | $ 0 | $ 0 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Note 4 - Loans and Allowance for Loan Losses (Details) - Loans Modified as Troubled Debt Restructurings within the Previous Twelve Months That Became Over 30 Days Past Due [Line Items] | |||
Number of Contracts | 0 | 0 | |
Recorded Principal Balance | $ 0 | $ 0 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||
Note 4 - Loans and Allowance for Loan Losses (Details) - Loans Modified as Troubled Debt Restructurings within the Previous Twelve Months That Became Over 30 Days Past Due [Line Items] | |||
Number of Contracts | 0 | 0 | |
Recorded Principal Balance | $ 0 | $ 0 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | |||
Note 4 - Loans and Allowance for Loan Losses (Details) - Loans Modified as Troubled Debt Restructurings within the Previous Twelve Months That Became Over 30 Days Past Due [Line Items] | |||
Number of Contracts | 0 | 1 | |
Recorded Principal Balance | $ 0 | $ 18,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Commercial and Industrial [Member] | |||
Note 4 - Loans and Allowance for Loan Losses (Details) - Loans Modified as Troubled Debt Restructurings within the Previous Twelve Months That Became Over 30 Days Past Due [Line Items] | |||
Number of Contracts | 0 | 0 | |
Recorded Principal Balance | $ 0 | $ 0 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | |||
Note 4 - Loans and Allowance for Loan Losses (Details) - Loans Modified as Troubled Debt Restructurings within the Previous Twelve Months That Became Over 30 Days Past Due [Line Items] | |||
Number of Contracts | 0 | 0 | |
Recorded Principal Balance | $ 0 | $ 0 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Owner Occupied Loan [Member] | |||
Note 4 - Loans and Allowance for Loan Losses (Details) - Loans Modified as Troubled Debt Restructurings within the Previous Twelve Months That Became Over 30 Days Past Due [Line Items] | |||
Number of Contracts | 0 | 1 | |
Recorded Principal Balance | $ 0 | $ 18,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | |||
Note 4 - Loans and Allowance for Loan Losses (Details) - Loans Modified as Troubled Debt Restructurings within the Previous Twelve Months That Became Over 30 Days Past Due [Line Items] | |||
Number of Contracts | 0 | 0 | |
Recorded Principal Balance | $ 0 | $ 0 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | |||
Note 4 - Loans and Allowance for Loan Losses (Details) - Loans Modified as Troubled Debt Restructurings within the Previous Twelve Months That Became Over 30 Days Past Due [Line Items] | |||
Number of Contracts | 0 | 0 | |
Recorded Principal Balance | $ 0 | $ 0 | |
Retail Portfolio Segment [Member] | Originated Loan [Member] | |||
Note 4 - Loans and Allowance for Loan Losses (Details) - Loans Modified as Troubled Debt Restructurings within the Previous Twelve Months That Became Over 30 Days Past Due [Line Items] | |||
Number of Contracts | 0 | 0 | |
Recorded Principal Balance | $ 0 | $ 0 | |
Retail Portfolio Segment [Member] | Originated Loan [Member] | Home Equity and Other [Member] | |||
Note 4 - Loans and Allowance for Loan Losses (Details) - Loans Modified as Troubled Debt Restructurings within the Previous Twelve Months That Became Over 30 Days Past Due [Line Items] | |||
Number of Contracts | 0 | 0 | |
Recorded Principal Balance | $ 0 | $ 0 | |
Retail Portfolio Segment [Member] | Originated Loan [Member] | 1-4 Family Mortgages [Member] | |||
Note 4 - Loans and Allowance for Loan Losses (Details) - Loans Modified as Troubled Debt Restructurings within the Previous Twelve Months That Became Over 30 Days Past Due [Line Items] | |||
Number of Contracts | 0 | 0 | |
Recorded Principal Balance | $ 0 | $ 0 | |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | |||
Note 4 - Loans and Allowance for Loan Losses (Details) - Loans Modified as Troubled Debt Restructurings within the Previous Twelve Months That Became Over 30 Days Past Due [Line Items] | |||
Number of Contracts | 0 | 0 | |
Recorded Principal Balance | $ 0 | $ 0 | |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | Home Equity and Other [Member] | |||
Note 4 - Loans and Allowance for Loan Losses (Details) - Loans Modified as Troubled Debt Restructurings within the Previous Twelve Months That Became Over 30 Days Past Due [Line Items] | |||
Number of Contracts | 0 | 0 | |
Recorded Principal Balance | $ 0 | $ 0 | |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | 1-4 Family Mortgages [Member] | |||
Note 4 - Loans and Allowance for Loan Losses (Details) - Loans Modified as Troubled Debt Restructurings within the Previous Twelve Months That Became Over 30 Days Past Due [Line Items] | |||
Number of Contracts | 0 | 0 | |
Recorded Principal Balance | $ 0 | $ 0 |
Note 4 - Loans and Allowance 79
Note 4 - Loans and Allowance for Loan Losses (Details) - Activity for Troubled Debt Restructurings - USD ($) | 7 Months Ended | 12 Months Ended | ||
Dec. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Commercial and Industrial [Member] | ||||
Commercial Loan Portfolio: | ||||
Beginning Balance | $ 7,026,000 | $ 1,656,000 | $ 2,720,000 | |
Charge-Offs | 0 | (67,000) | (35,000) | |
Payments | (6,648,000) | (871,000) | (2,781,000) | |
Transfers to ORE | 0 | (21,000) | (74,000) | |
Net Additions/Deletions | 1,650,000 | 6,329,000 | 1,826,000 | |
Ending Balance | $ 7,026,000 | 2,028,000 | 7,026,000 | 1,656,000 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||||
Commercial Loan Portfolio: | ||||
Beginning Balance | 2,680,000 | 4,501,000 | 3,071,000 | |
Charge-Offs | 0 | 0 | (725,000) | |
Payments | (594,000) | (4,719,000) | (1,596,000) | |
Transfers to ORE | 0 | 0 | 0 | |
Net Additions/Deletions | 0 | 2,898,000 | 3,751,000 | |
Ending Balance | 2,680,000 | 2,086,000 | 2,680,000 | 4,501,000 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Owner Occupied Loan [Member] | ||||
Commercial Loan Portfolio: | ||||
Beginning Balance | 17,160,000 | 1,816,000 | 4,116,000 | |
Charge-Offs | (4,198,000) | (11,000) | (70,000) | |
Payments | (11,562,000) | (2,343,000) | (2,151,000) | |
Transfers to ORE | 0 | (48,000) | (363,000) | |
Net Additions/Deletions | 0 | 17,746,000 | 284,000 | |
Ending Balance | 17,160,000 | 1,400,000 | 17,160,000 | 1,816,000 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | ||||
Commercial Loan Portfolio: | ||||
Beginning Balance | 17,439,000 | 22,312,000 | 37,671,000 | |
Charge-Offs | 0 | 0 | (2,537,000) | |
Payments | (6,782,000) | (5,191,000) | (13,795,000) | |
Transfers to ORE | 0 | 0 | (1,153,000) | |
Net Additions/Deletions | 0 | 318,000 | 2,126,000 | |
Ending Balance | 17,439,000 | 10,657,000 | 17,439,000 | 22,312,000 |
Commercial Portfolio Segment [Member] | Originated Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | ||||
Commercial Loan Portfolio: | ||||
Beginning Balance | 505,000 | 2,620,000 | 3,027,000 | |
Charge-Offs | 0 | (420,000) | (15,000) | |
Payments | (29,000) | (1,695,000) | (735,000) | |
Transfers to ORE | 0 | 0 | 0 | |
Net Additions/Deletions | 0 | 0 | 343,000 | |
Ending Balance | 505,000 | 476,000 | 505,000 | 2,620,000 |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Commercial and Industrial [Member] | ||||
Commercial Loan Portfolio: | ||||
Beginning Balance | 0 | 1,439,000 | ||
Charge-Offs | 0 | 0 | ||
Payments | (2,000) | (444,000) | ||
Transfers to ORE | 0 | 0 | ||
Net Additions/Deletions | 1,441,000 | 691,000 | ||
Ending Balance | 1,439,000 | 1,686,000 | 1,439,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||||
Commercial Loan Portfolio: | ||||
Beginning Balance | 0 | 0 | ||
Charge-Offs | 0 | 0 | ||
Payments | 0 | 0 | ||
Transfers to ORE | 0 | 0 | ||
Net Additions/Deletions | 0 | 0 | ||
Ending Balance | 0 | 0 | 0 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Owner Occupied Loan [Member] | ||||
Commercial Loan Portfolio: | ||||
Beginning Balance | 0 | 1,569,000 | ||
Charge-Offs | 0 | (31,000) | ||
Payments | 0 | (590,000) | ||
Transfers to ORE | 0 | 0 | ||
Net Additions/Deletions | 1,569,000 | 704,000 | ||
Ending Balance | 1,569,000 | 1,652,000 | 1,569,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Non Owner Occupied Loan [Member] | ||||
Commercial Loan Portfolio: | ||||
Beginning Balance | 0 | 64,000 | ||
Charge-Offs | 0 | 0 | ||
Payments | 0 | (9,000) | ||
Transfers to ORE | 0 | 0 | ||
Net Additions/Deletions | 64,000 | 592,000 | ||
Ending Balance | 64,000 | 647,000 | 64,000 | |
Commercial Portfolio Segment [Member] | Acquired Loan [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | ||||
Commercial Loan Portfolio: | ||||
Beginning Balance | 0 | 381,000 | ||
Charge-Offs | 0 | (42,000) | ||
Payments | (18,000) | (342,000) | ||
Transfers to ORE | 0 | 0 | ||
Net Additions/Deletions | 399,000 | 334,000 | ||
Ending Balance | 381,000 | 331,000 | 381,000 | |
Retail Portfolio Segment [Member] | Originated Loan [Member] | Home Equity and Other [Member] | ||||
Commercial Loan Portfolio: | ||||
Beginning Balance | 0 | 0 | 0 | |
Charge-Offs | 0 | 0 | 0 | |
Payments | 0 | 0 | 0 | |
Transfers to ORE | 0 | 0 | 0 | |
Net Additions/Deletions | 146,000 | 0 | 0 | |
Ending Balance | 0 | 146,000 | 0 | 0 |
Retail Portfolio Segment [Member] | Originated Loan [Member] | 1-4 Family Mortgages [Member] | ||||
Commercial Loan Portfolio: | ||||
Beginning Balance | 1,967,000 | 1,987,000 | 155,000 | |
Charge-Offs | (148,000) | 0 | 0 | |
Payments | (1,691,000) | (224,000) | (46,000) | |
Transfers to ORE | 0 | 0 | 0 | |
Net Additions/Deletions | 0 | 204,000 | 1,878,000 | |
Ending Balance | 1,967,000 | 128,000 | 1,967,000 | $ 1,987,000 |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | Home Equity and Other [Member] | ||||
Commercial Loan Portfolio: | ||||
Beginning Balance | 0 | 26,000 | ||
Charge-Offs | 0 | 0 | ||
Payments | 0 | (39,000) | ||
Transfers to ORE | 0 | 0 | ||
Net Additions/Deletions | 26,000 | 154,000 | ||
Ending Balance | 26,000 | 141,000 | 26,000 | |
Retail Portfolio Segment [Member] | Acquired Loan [Member] | 1-4 Family Mortgages [Member] | ||||
Commercial Loan Portfolio: | ||||
Beginning Balance | 0 | 178,000 | ||
Charge-Offs | 0 | 0 | ||
Payments | 0 | (3,000) | ||
Transfers to ORE | 0 | 0 | ||
Net Additions/Deletions | 178,000 | 141,000 | ||
Ending Balance | $ 178,000 | $ 316,000 | $ 178,000 |
Note 4 - Loans and Allowance 80
Note 4 - Loans and Allowance for Loan Losses (Details) - Allowance Related to Troubled Debt Restructurings - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Note 4 - Loans and Allowance for Loan Losses (Details) - Allowance Related to Troubled Debt Restructurings [Line Items] | ||
Allowance for losses, troubled debt restructurings | $ 1,108,000 | $ 5,793,000 |
Commercial Portfolio Segment [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Allowance Related to Troubled Debt Restructurings [Line Items] | ||
Allowance for losses, troubled debt restructurings | 1,088,000 | 5,793,000 |
Commercial Portfolio Segment [Member] | Commercial and Industrial [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Allowance Related to Troubled Debt Restructurings [Line Items] | ||
Allowance for losses, troubled debt restructurings | 221,000 | 16,000 |
Commercial Portfolio Segment [Member] | Vacant Land and Land Development and Residential Construction Loan [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Allowance Related to Troubled Debt Restructurings [Line Items] | ||
Allowance for losses, troubled debt restructurings | 186,000 | 151,000 |
Commercial Portfolio Segment [Member] | Real Estate Owner Occupied Loan [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Allowance Related to Troubled Debt Restructurings [Line Items] | ||
Allowance for losses, troubled debt restructurings | 115,000 | 182,000 |
Commercial Portfolio Segment [Member] | Real Estate Non Owner Occupied Loan [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Allowance Related to Troubled Debt Restructurings [Line Items] | ||
Allowance for losses, troubled debt restructurings | 201,000 | 4,778,000 |
Commercial Portfolio Segment [Member] | Real Estate Multi Family and Residential Rental Loan [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Allowance Related to Troubled Debt Restructurings [Line Items] | ||
Allowance for losses, troubled debt restructurings | 365,000 | 666,000 |
Retail Portfolio Segment [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Allowance Related to Troubled Debt Restructurings [Line Items] | ||
Allowance for losses, troubled debt restructurings | 20,000 | 0 |
Retail Portfolio Segment [Member] | Home Equity and Other [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Allowance Related to Troubled Debt Restructurings [Line Items] | ||
Allowance for losses, troubled debt restructurings | 14,000 | 0 |
Retail Portfolio Segment [Member] | 1-4 Family Mortgages [Member] | ||
Note 4 - Loans and Allowance for Loan Losses (Details) - Allowance Related to Troubled Debt Restructurings [Line Items] | ||
Allowance for losses, troubled debt restructurings | $ 6,000 | $ 0 |
Note 5 - Premises and Equipme81
Note 5 - Premises and Equipment, Net (Details) - USD ($) $ in Millions | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Property, Plant and Equipment [Abstract] | |||
Operating Leases, Future Minimum Payments Due | $ 1.6 | ||
Operating Leases, Future Minimum Payments Due, Next Twelve Months | 0.4 | ||
Operating Leases Future Minimum Payments Due In One To Three Years | 0.8 | ||
Operating Leases, Future Minimum Payments, Due in Three to Five Years | 0.3 | ||
Operating Leases, Future Minimum Payments, Due Thereafter | 0.1 | ||
Depreciation | $ 3 | $ 2.3 | $ 1.3 |
Note 5 - Premises and Equipme82
Note 5 - Premises and Equipment, Net (Details) - Summary of Premises and Equipment - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Property, Plant and Equipment [Line Items] | ||
Premises and equipment | $ 72,901,000 | $ 71,962,000 |
Less: accumulated depreciation | 26,039,000 | 23,150,000 |
Total premises and equipment | 46,862,000 | 48,812,000 |
Land and Land Improvements [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment | 16,529,000 | 16,579,000 |
Building [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment | 39,394,000 | 38,761,000 |
Furniture and Fixtures [Member] | ||
Property, Plant and Equipment [Line Items] | ||
Premises and equipment | $ 16,978,000 | $ 16,622,000 |
Note 6 - Mortgage Loan Servic83
Note 6 - Mortgage Loan Servicing (Details) - USD ($) $ in Millions | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Mortgage Loan Servicing [Abstract] | ||
Continuing Involvement With Transferred Financial Assets Custodial Escrow Balance | $ 3 | $ 2.8 |
Valuation Allowance for Impairment of Recognized Servicing Assets, Balance | 0 | 0 |
Servicing Asset at Fair Value, Amount | $ 7.8 | $ 7.3 |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Discount Rate | 7.10% | 7.05% |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Prepayment Speed | 11.70% | 12.60% |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Expected Credit Losses | 0.90% | 1.01% |
Servicing Assets and Servicing Liabilities at Fair Value, Assumptions Used to Estimate Fair Value, Weighted Average Life | 3 years 219 days | 3 years 255 days |
Note 6 - Mortgage Loan Servic84
Note 6 - Mortgage Loan Servicing (Details) - Mortgage Loans Serviced for Others - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Mortgage loan portfolios serviced for: | ||
Mortgage loans serviced for others | $ 603,185,000 | $ 590,820,000 |
Federal Home Loan Mortgage Corporation [Member] | ||
Mortgage loan portfolios serviced for: | ||
Mortgage loans serviced for others | 598,510,000 | 589,118,000 |
Federal Home Loan Bank [Member] | ||
Mortgage loan portfolios serviced for: | ||
Mortgage loans serviced for others | $ 4,675,000 | $ 1,702,000 |
Note 6 - Mortgage Loan Servic85
Note 6 - Mortgage Loan Servicing (Details) - Activity for Capitalized Mortgage Loan Servicing Rights - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Servicing Assets at Fair Value [Line Items] | ||
Balance at beginning of year | $ 6,712,000 | $ 0 |
Additions | 1,487,000 | 575,000 |
Balance at end of year | 6,121,000 | 6,712,000 |
Amortized to expense | (2,078,000) | (1,252,000) |
Firstbank Corporation [Member] | ||
Servicing Assets at Fair Value [Line Items] | ||
Additions | $ 0 | $ 7,389,000 |
Note 6 - Mortgage Loan Servic86
Note 6 - Mortgage Loan Servicing (Details) - Estimated Amortization | Dec. 31, 2015USD ($) |
Estimated Amortization [Abstract] | |
2,016 | $ 1,409,000 |
2,017 | 1,146,000 |
2,018 | 955,000 |
2,019 | 804,000 |
2,020 | 659,000 |
Thereafter | $ 1,148,000 |
Note 7 - Core Deposit Intangi87
Note 7 - Core Deposit Intangible Assets, Net (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Note 7 - Core Deposit Intangible Assets, Net (Details) [Line Items] | ||
Finite-Lived Core Deposits, Gross | $ 17,500,000 | $ 17,500,000 |
Finite-Lived Intangible Assets, Net | 12,631,000 | 15,624,000 |
Core Deposits [Member] | ||
Note 7 - Core Deposit Intangible Assets, Net (Details) [Line Items] | ||
Finite-Lived Intangible Assets, Accumulated Amortization | 4,900,000 | 1,900,000 |
Finite-Lived Intangible Assets, Net | $ 12,600,000 | $ 15,600,000 |
Note 7 - Core Deposit Intangi88
Note 7 - Core Deposit Intangible Assets, Net (Details) - Estimated Amortization Expense on Core Deposit Intangible Assets - Core Deposits [Member] | Dec. 31, 2015USD ($) |
Note 7 - Core Deposit Intangible Assets, Net (Details) - Estimated Amortization Expense on Core Deposit Intangible Assets [Line Items] | |
2,016 | $ 2,675,000 |
2,017 | 2,357,000 |
2,018 | 2,039,000 |
2,019 | 1,721,000 |
2,020 | 1,403,000 |
Thereafter | $ 2,436,000 |
Note 8 - Deposits (Details)
Note 8 - Deposits (Details) - USD ($) $ in Millions | Dec. 31, 2015 | Dec. 31, 2014 |
Disclosure Text Block [Abstract] | ||
Time Deposits, More Than $250,000 | $ 180.4 | $ 223 |
Note 8 - Deposits (Details) - S
Note 8 - Deposits (Details) - Summary of Deposits - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Summary of Deposits [Abstract] | ||
Noninterest-bearing demand (in Dollars) | $ 674,568,000 | $ 558,738,000 |
Noninterest-bearing demand | 29.60% | 24.50% |
Noninterest-bearing demand | 20.70% | |
Interest-bearing checking (in Dollars) | $ 403,354,000 | $ 413,382,000 |
Interest-bearing checking | 17.70% | 18.20% |
Interest-bearing checking | (2.40%) | |
Money market (in Dollars) | $ 274,395,000 | $ 235,587,000 |
Money market | 12.10% | 10.30% |
Money market | 16.50% | |
Savings (in Dollars) | $ 332,794,000 | $ 330,459,000 |
Savings | 14.60% | 14.50% |
Savings | 0.70% | |
Time, under $100,000 (in Dollars) | $ 155,655,000 | $ 181,026,000 |
Time, under $100,000 | 6.90% | 8.00% |
Time, under $100,000 | (14.00%) | |
Time, $100,000 and over (in Dollars) | $ 313,247,000 | $ 382,120,000 |
Time, $100,000 and over | 13.80% | 16.80% |
Time, $100,000 and over | (18.00%) | |
(in Dollars) | $ 2,154,013,000 | $ 2,101,312,000 |
94.70% | 92.30% | |
2.50% | ||
Out-of-area time, under $100,000 (in Dollars) | $ 149,000 | $ 2,422,000 |
Out-of-area time, under $100,000 | 0.10% | 0.10% |
Out-of-area time, under $100,000 | 0.00% | |
Out-of-area time, $100,000 and over (in Dollars) | $ 121,220,000 | $ 173,181,000 |
Out-of-area time, $100,000 and over | 5.30% | 7.60% |
Out-of-area time, $100,000 and over | (30.00%) | |
(in Dollars) | $ 121,369,000 | $ 175,603,000 |
5.30% | 7.70% | |
(30.90%) | ||
Total deposits (in Dollars) | $ 2,275,382,000 | $ 2,276,915,000 |
Total deposits | 100.00% | 100.00% |
Total deposits | (0.10%) |
Note 8 - Deposits (Details) - M
Note 8 - Deposits (Details) - Maturity Distribution for Certificate of Deposits - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Maturity Distribution for Certificate of Deposits [Abstract] | ||
In one year or less | $ 305,122,000 | $ 368,163,000 |
In one to two years | 145,775,000 | 153,346,000 |
In two to three years | 71,988,000 | 118,919,000 |
In three to four years | 37,527,000 | 60,953,000 |
In four to five years | 29,859,000 | 37,368,000 |
Total certificates of deposit | $ 590,271,000 | $ 738,749,000 |
Note 8 - Deposits (Details) - C
Note 8 - Deposits (Details) - Certificates of Deposit with Balances of $100,000 or More - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Certificates of Deposit with Balances of $100,000 or More [Abstract] | ||
Up to three months | $ 73,783,000 | $ 75,356,000 |
Three months to six months | 50,375,000 | 65,838,000 |
Six months to twelve months | 91,786,000 | 125,492,000 |
Over twelve months | 218,523,000 | 288,615,000 |
Total certificates of deposit | $ 434,467,000 | $ 555,301,000 |
Note 9 - Securities Sold Unde93
Note 9 - Securities Sold Under Agreements to Repurchase (Details) | 12 Months Ended |
Dec. 31, 2015 | |
Maximum [Member] | |
Note 9 - Securities Sold Under Agreements to Repurchase (Details) [Line Items] | |
Repurchase Agreement Counterparty, Weighted Average Maturity of Agreements | 1 year |
Note 9 - Securities Sold Unde94
Note 9 - Securities Sold Under Agreements to Repurchase (Details) - Securities Sold Under Agreement to Repurchase - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Securities Sold Under Agreement to Repurchase [Abstract] | ||
Outstanding balance at year-end | $ 154,771,000 | $ 167,569,000 |
Weighted average interest rate at year-end | 0.11% | 0.11% |
Average daily balance during the year | $ 146,826,000 | $ 105,474,000 |
Weighted average interest rate during the year | 0.11% | 0.12% |
Maximum daily balance during the year | $ 168,211,000 | $ 178,042,000 |
Note 10 - Federal Home Loan B95
Note 10 - Federal Home Loan Bank Advances (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Note 10 - Federal Home Loan Bank Advances (Details) [Line Items] | ||
Long-term Federal Home Loan Bank Advances (in Dollars) | $ 68,000,000 | $ 54,022,000 |
Line of Credit Facility, Maximum Borrowing Capacity (in Dollars) | 467,000,000 | |
Line of Credit Facility, Remaining Borrowing Capacity (in Dollars) | 399,000,000 | |
Federal Home Loan Bank of Indianapolis [Member] | ||
Note 10 - Federal Home Loan Bank Advances (Details) [Line Items] | ||
Long-term Federal Home Loan Bank Advances (in Dollars) | $ 68,000,000 | $ 54,000,000 |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Interest Rate, Range from | 1.22% | 0.62% |
Federal Home Loan Bank, Advances, General Debt Obligations, Disclosures, Interest Rate, Range to | 2.11% | 1.51% |
Federal Home Loan Bank, Advances, Branch of FHLB Bank, Weighted Average Interest Rate | 1.49% | 1.26% |
Note 10 - Federal Home Loan B96
Note 10 - Federal Home Loan Bank Advances (Details) - Maturities of Currently Outstanding FHLB Advances | Dec. 31, 2015USD ($) |
Maturities of Currently Outstanding FHLB Advances [Abstract] | |
2,016 | $ 3,000,000 |
2,017 | 45,000,000 |
2,018 | 0 |
2,019 | 0 |
2,020 | 10,000,000 |
Thereafter | $ 10,000,000 |
Note 11 - Federal Income Taxe97
Note 11 - Federal Income Taxes (Details) - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Note 11 - Federal Income Taxes (Details) [Line Items] | ||
Deferred Tax Assets, Capital Loss Carryforwards | $ 270,000 | $ 450,000 |
Unrecognized Tax Benefits | 0 | 0 |
Unrecognized Tax Benefits, Income Tax Penalties and Interest Accrued | 0 | 0 |
Firstbank Corporation [Member] | ||
Note 11 - Federal Income Taxes (Details) [Line Items] | ||
Deferred Tax Assets, Capital Loss Carryforwards | 300,000 | $ 500,000 |
Valuation Allowance, Deferred Tax Asset, Increase (Decrease), Amount | (200,000) | |
Capital Loss Carryforward [Member] | ||
Note 11 - Federal Income Taxes (Details) [Line Items] | ||
Tax Credit Carryforward, Amount | $ 800,000 |
Note 11 - Federal Income Taxe98
Note 11 - Federal Income Taxes (Details) - Consolidated Income Tax Expense - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Consolidated Income Tax Expense [Abstract] | |||
Current expense | $ 7,399,000 | $ 3,359,000 | $ 0 |
Deferred expense | 4,592,000 | 4,506,000 | 8,092,000 |
Change in valuation allowance | (180,000) | 0 | 0 |
Tax expense | $ 11,811,000 | $ 7,865,000 | $ 8,092,000 |
Note 11 - Federal Income Taxe99
Note 11 - Federal Income Taxes (Details) - Effective Income Tax Rate Reconciliation - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Effective Income Tax Rate Reconciliation [Abstract] | |||
Tax at statutory rate (35%) | $ 13,591,000 | $ 8,819,000 | $ 8,794,000 |
Increase (decrease) from | |||
Tax-exempt interest | (781,000) | (621,000) | (347,000) |
Bank owned life insurance | (384,000) | (415,000) | (465,000) |
Change in valuation allowance | (180,000) | 0 | 0 |
Other | (435,000) | 82,000 | 110,000 |
Tax expense | $ 11,811,000 | $ 7,865,000 | $ 8,092,000 |
Note 11 - Federal Income Tax100
Note 11 - Federal Income Taxes (Details) - Significant Components of Deferred Tax Assets and Liabilities - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Deferred income tax assets | ||
Allowance for loan losses | $ 5,488,000 | $ 7,014,000 |
Deferred compensation | 1,367,000 | 1,304,000 |
Stock compensation | 767,000 | 521,000 |
Nonaccrual loan interest income | 602,000 | 471,000 |
Deferred loan fees | 504,000 | 445,000 |
Losses on capital investments | 270,000 | 450,000 |
Fair value write-downs on foreclosed properties | 115,000 | 212,000 |
Fair value of interest rate swap | 89,000 | 89,000 |
Tax credit carryforwards | 0 | 3,395,000 |
Business combination adjustments | 0 | 315,000 |
Other | 283,000 | 410,000 |
Deferred tax asset before valuation allowance | 9,485,000 | 14,626,000 |
Valuation allowance | (270,000) | (450,000) |
Deferred tax asset after valuation allowance | 9,215,000 | 14,176,000 |
Deferred income tax liabilities | ||
Depreciation | 1,128,000 | 1,217,000 |
Prepaid expenses | 378,000 | 425,000 |
Core deposit intangible | 4,349,000 | 5,386,000 |
Mortgage loan servicing rights | 2,142,000 | 2,349,000 |
Unrealized gain on securities | 768,000 | 112,000 |
Business combination adjustments | 1,091,000 | 0 |
Other | 188,000 | 476,000 |
Deferred tax liability | 10,044,000 | 9,965,000 |
Total net deferred tax asset (liability) | $ (829,000) | $ 4,211,000 |
Note 12 - Stock-based Compen101
Note 12 - Stock-based Compensation (Details) - USD ($) | May. 28, 2015 | Jan. 02, 2015 | Jun. 01, 2014 | Jun. 30, 2014 | Dec. 31, 2015 | Dec. 31, 2014 |
Note 12 - Stock-based Compensation (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized (in Shares) | 215,000 | |||||
Stock Issued During Period, Shares, Issued for Services (in Shares) | 14,100 | |||||
Allocated Share-based Compensation Expense (in Dollars) | $ 300,000 | |||||
Stock Issued For Services Share-based Compensation Expense Period | 12 months | |||||
Director [Member] | ||||||
Note 12 - Stock-based Compensation (Details) [Line Items] | ||||||
Stock Issued During Period, Shares, Issued for Services (in Shares) | 5,994 | |||||
Allocated Share-based Compensation Expense (in Dollars) | $ 100,000 | |||||
Stock Issued For Services Share-based Compensation Expense Period | 5 months | |||||
Firstbank Plans [Member] | ||||||
Note 12 - Stock-based Compensation (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | 0 | 0 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value (in Dollars) | $ 1,500,000 | |||||
Firstbank Corporation [Member] | ||||||
Note 12 - Stock-based Compensation (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross (in Shares) | 282,200 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested and Expected to Vest, Exercisable, Number (in Shares) | 258,400 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Vested, Number of Shares (in Shares) | 23,800 | |||||
Options Granted During 2006, 2007 And 2008 [Member] | ||||||
Note 12 - Stock-based Compensation (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 7 years | |||||
Restricted Stock Granted In 2012 [Member] | ||||||
Note 12 - Stock-based Compensation (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | |||||
Restricted Stock Granted In 2014 And 2015 [Member] | ||||||
Note 12 - Stock-based Compensation (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 3 years | |||||
Stock Options Granted During 2014 And 2015 [Member] | ||||||
Note 12 - Stock-based Compensation (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 2 years | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 7 years | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Purchase Price of Common Stock, Percent | 110.00% | |||||
Restricted Stock [Member] | ||||||
Note 12 - Stock-based Compensation (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award Accelerated Compensation Cost (in Dollars) | $ 200,000 | |||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 3 years | |||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Share-based Awards Other than Options (in Dollars) | $ 3,000,000 | |||||
Employee Stock Option [Member] | ||||||
Note 12 - Stock-based Compensation (Details) [Line Items] | ||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition | 2 years | |||||
Employee Stock Option [Member] | Firstbank Corporation [Member] | ||||||
Note 12 - Stock-based Compensation (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Period | 10 years | |||||
Stock Option Grants For 50 Shares Or Less [Member] | Firstbank Corporation [Member] | ||||||
Note 12 - Stock-based Compensation (Details) [Line Items] | ||||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period | 1 year | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Rights, Percentage | 20.00% | |||||
Maximum [Member] | ||||||
Note 12 - Stock-based Compensation (Details) [Line Items] | ||||||
Employee Service Share-based Compensation, Nonvested Awards, Compensation Not yet Recognized, Stock Options (in Dollars) | $ 100,000 | |||||
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Intrinsic Value (in Dollars) | $ 0 |
Note 12 - Stock-based Compen102
Note 12 - Stock-based Compensation (Details) - Summary of Restricted Stock Activity - Restricted Stock [Member] - Mercantile Plans [Member] - $ / shares | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Note 12 - Stock-based Compensation (Details) - Summary of Restricted Stock Activity [Line Items] | |||
Nonvested at beginning of year | 101,490 | 63,800 | 66,100 |
Nonvested at beginning of year | $ 20.13 | $ 14.30 | $ 14.30 |
Granted | 65,933 | 101,490 | 0 |
Granted | $ 25.14 | $ 20.13 | $ 0 |
Vested | (4,666) | (63,300) | 0 |
Vested | $ 20.13 | $ 14.30 | $ 0 |
Forfeited | (7,256) | (500) | (2,300) |
Forfeited | $ 20.13 | $ 14.30 | $ 14.30 |
Nonvested at end of year | 155,501 | 101,490 | 63,800 |
Nonvested at end of year | $ 22.25 | $ 20.13 | $ 14.30 |
Note 12 - Stock-based Compen103
Note 12 - Stock-based Compensation (Details) - Summary Of Stock Option Activity - $ / shares | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Mercantile Plans [Member] | |||
Note 12 - Stock-based Compensation (Details) - Summary Of Stock Option Activity [Line Items] | |||
Outstanding | 35,335 | 60,876 | 152,896 |
Outstanding | $ 31.09 | $ 33.11 | $ 26.15 |
Granted | 4,200 | 6,488 | 0 |
Granted | $ 27.66 | $ 22.15 | |
Exercised | (2,700) | (2,845) | (51,055) |
Exercised | $ 6.21 | $ 17.74 | $ 13.72 |
Forfeited or expired | (26,147) | (29,184) | (40,965) |
Forfeited or expired | $ 35.88 | $ 34.60 | $ 31.30 |
Outstanding | 10,688 | 35,335 | 60,876 |
Outstanding | $ 24.32 | $ 31.09 | $ 33.11 |
Options exercisable at year-end | 0 | 28,847 | 60,876 |
Options exercisable at year-end | $ 33.11 | $ 33.11 | |
Firstbank Plans [Member] | |||
Note 12 - Stock-based Compensation (Details) - Summary Of Stock Option Activity [Line Items] | |||
Outstanding | 217,982 | 0 | |
Outstanding | $ 14.89 | ||
Granted | 0 | 0 | |
Granted | |||
Replaced as part of merger | 0 | 282,178 | |
Replaced as part of merger | $ 15.48 | ||
Exercised | (56,417) | (27,740) | |
Exercised | $ 15.50 | $ 8.34 | |
Forfeited or expired | (37,678) | (36,456) | |
Forfeited or expired | $ 21.39 | $ 24.46 | |
Outstanding | 123,887 | 217,982 | 0 |
Outstanding | $ 12.64 | $ 14.89 | |
Options exercisable at year-end | 123,887 | 210,777 | |
Options exercisable at year-end | $ 12.64 | $ 15.22 |
Note 12 - Stock-based Compen104
Note 12 - Stock-based Compensation (Details) - Stock Option Valuation Assumptions - Employee Stock Option [Member] | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Note 12 - Stock-based Compensation (Details) - Stock Option Valuation Assumptions [Line Items] | ||
Risk-free interest rate | 1.67% | 1.56% |
Expected option life (Years) | 5 years | 5 years |
Expected stock price volatility | 29.00% | 26.00% |
Dividend yield | 2.50% | 2.50% |
Note 12 - Stock-based Compen105
Note 12 - Stock-based Compensation (Details) - Summary of Options Outstanding - $ / shares | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Mercantile Plans [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Exercise price range, lower range limit | $ 22.15 | $ 6.21 | $ 6.21 |
Exercise price range, upper range limit | $ 27.66 | $ 35.88 | $ 40.28 |
Number of Options Outstanding (in Shares) | 10,688 | ||
Weighted Average Remaining Contractual Life (Years) | 6 years 109 days | 2 years | 1 year 146 days |
Weighted Average exercise Price | $ 24.32 | ||
Number of Options Exercisable (in Shares) | 0 | ||
Options Exercisable, Weighted Average Exercise Price | $ 0 | ||
Firstbank Plans [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Exercise price range, lower range limit | 5.19 | $ 5.19 | |
Exercise price range, upper range limit | $ 22 | $ 24.46 | |
Number of Options Outstanding (in Shares) | 123,887 | ||
Weighted Average Remaining Contractual Life (Years) | 2 years 255 days | 3 years 36 days | |
Weighted Average exercise Price | $ 12.64 | ||
Number of Options Exercisable (in Shares) | 123,887 | ||
Options Exercisable, Weighted Average Exercise Price | $ 12.64 | ||
Exercise Price Range 1 [Member] | Mercantile Plans [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Exercise price range, lower range limit | 20.01 | ||
Exercise price range, upper range limit | $ 24 | ||
Number of Options Outstanding (in Shares) | 6,488 | ||
Weighted Average Remaining Contractual Life (Years) | 5 years 328 days | ||
Weighted Average exercise Price | $ 22.15 | ||
Number of Options Exercisable (in Shares) | 0 | ||
Options Exercisable, Weighted Average Exercise Price | $ 0 | ||
Exercise Price Range 2 [Member] | Mercantile Plans [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Exercise price range, lower range limit | 24.01 | ||
Exercise price range, upper range limit | $ 28 | ||
Number of Options Outstanding (in Shares) | 4,200 | ||
Weighted Average Remaining Contractual Life (Years) | 6 years 328 days | ||
Weighted Average exercise Price | $ 27.66 | ||
Number of Options Exercisable (in Shares) | 0 | ||
Options Exercisable, Weighted Average Exercise Price | $ 0 | ||
Exercise Price Range 3 [Member] | Firstbank Plans [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Exercise price range, lower range limit | 4 | ||
Exercise price range, upper range limit | $ 8 | ||
Number of Options Outstanding (in Shares) | 48,430 | ||
Weighted Average Remaining Contractual Life (Years) | 3 years 292 days | ||
Weighted Average exercise Price | $ 6.58 | ||
Number of Options Exercisable (in Shares) | 48,430 | ||
Options Exercisable, Weighted Average Exercise Price | $ 6.58 | ||
Exercise Price Range 4 [Member] | Firstbank Plans [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Exercise price range, lower range limit | 8.01 | ||
Exercise price range, upper range limit | $ 12 | ||
Number of Options Outstanding (in Shares) | 18,550 | ||
Weighted Average Remaining Contractual Life (Years) | 3 years 328 days | ||
Weighted Average exercise Price | $ 8.60 | ||
Number of Options Exercisable (in Shares) | 18,550 | ||
Options Exercisable, Weighted Average Exercise Price | $ 8.60 | ||
Exercise Price Range 5 [Member] | Firstbank Plans [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Exercise price range, lower range limit | 12.01 | ||
Exercise price range, upper range limit | $ 16 | ||
Number of Options Outstanding (in Shares) | 27,350 | ||
Weighted Average Remaining Contractual Life (Years) | 1 year 328 days | ||
Weighted Average exercise Price | $ 16 | ||
Number of Options Exercisable (in Shares) | 27,350 | ||
Options Exercisable, Weighted Average Exercise Price | $ 16 | ||
Exercise Price Range 6 [Member] | Firstbank Plans [Member] | |||
Share-based Compensation, Shares Authorized under Stock Option Plans, Exercise Price Range [Line Items] | |||
Exercise price range, lower range limit | 20.01 | ||
Exercise price range, upper range limit | $ 24 | ||
Number of Options Outstanding (in Shares) | 29,557 | ||
Weighted Average Remaining Contractual Life (Years) | 328 days | ||
Weighted Average exercise Price | $ 22 | ||
Number of Options Exercisable (in Shares) | 29,557 | ||
Options Exercisable, Weighted Average Exercise Price | $ 22 |
Note 12 - Stock-based Compen106
Note 12 - Stock-based Compensation (Details) - Summary of Information Related to Options Outstanding - $ / shares | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Mercantile Plans [Member] | |||
Note 12 - Stock-based Compensation (Details) - Summary of Information Related to Options Outstanding [Line Items] | |||
Minimum exercise price | $ 22.15 | $ 6.21 | $ 6.21 |
Maximum exercise price | $ 27.66 | $ 35.88 | $ 40.28 |
Average remaining option term (Years) | 6 years 109 days | 2 years | 1 year 146 days |
Firstbank Plans [Member] | |||
Note 12 - Stock-based Compensation (Details) - Summary of Information Related to Options Outstanding [Line Items] | |||
Minimum exercise price | $ 5.19 | $ 5.19 | |
Maximum exercise price | $ 22 | $ 24.46 | |
Average remaining option term (Years) | 2 years 255 days | 3 years 36 days |
Note 12 - Stock-based Compen107
Note 12 - Stock-based Compensation (Details) - Summary of Stock Option Grants and Exercises - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Note 12 - Stock-based Compensation (Details) - Summary of Stock Option Grants and Exercises [Line Items] | |||
Cash received from stock option exercises | $ 891,000 | $ 282,000 | $ 289,000 |
Mercantile Plans [Member] | |||
Note 12 - Stock-based Compensation (Details) - Summary of Stock Option Grants and Exercises [Line Items] | |||
Aggregate intrinsic value of stock options exercised | 36,000 | 11,000 | 408,000 |
Cash received from stock option exercises | 17,000 | 50,000 | 289,000 |
Tax benefit realized from stock option exercises | $ 0 | $ 0 | $ 0 |
Weighted average per share fair value of stock options granted (in Dollars per share) | $ 4.41 | $ 2.72 | |
Firstbank Plans [Member] | |||
Note 12 - Stock-based Compensation (Details) - Summary of Stock Option Grants and Exercises [Line Items] | |||
Aggregate intrinsic value of stock options exercised | $ 420,000 | $ 333,000 | |
Cash received from stock option exercises | 874,000 | 232,000 | |
Tax benefit realized from stock option exercises | $ 147,000 | $ 116,000 | |
Weighted average per share fair value of stock options granted (in Dollars per share) |
Note 13 - Related Parties (Deta
Note 13 - Related Parties (Details) - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Note 13 - Related Parties (Details) [Line Items] | |||
Related Party Deposits and Repurchase Agreements | $ 18,500,000 | $ 16,600,000 | |
Directors and Executive Officers [Member] | |||
Note 13 - Related Parties (Details) [Line Items] | |||
Loan Commitments to Related Parties | 14,000,000 | 15,800,000 | |
Loans and Leases Receivable, Related Parties | $ 11,151,000 | $ 9,002,000 | $ 6,884,000 |
Note 13 - Related Parties (D109
Note 13 - Related Parties (Details) - Loans Outstanding to Directors and Executive Officers - Directors and Executive Officers [Member] - USD ($) | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Related Party Transaction [Line Items] | ||
Beginning balance | $ 9,002,000 | $ 6,884,000 |
New loans | 3,371,000 | 781,000 |
Repayments | (965,000) | (381,000) |
Adjustments | (257,000) | 1,718,000 |
Ending balance | $ 11,151,000 | $ 9,002,000 |
Note 14 - Commitments and Of110
Note 14 - Commitments and Off-balance Sheet Risk (Details) - USD ($) | 9 Months Ended | 12 Months Ended | |
Sep. 30, 2015 | Dec. 31, 2015 | Dec. 31, 2014 | |
Note 14 - Commitments and Off-balance Sheet Risk (Details) [Line Items] | |||
Reserve or Liability Balance for Financial Instruments With Off-balance Sheet Risk | $ 0 | ||
Reserve or Liability Balance for Financial Instruments with Off-balance Sheet Risk | $ 0 | ||
Mortgage Loans on Real Estate, Minimum Interest Rate in Range | 4.00% | ||
Mortgage Loans on Real Estate, Maximum Interest Rate in Range | 7.00% | ||
Term Deb tSecured by Real Estate Balloon Payment Period | 5 years | ||
Liabilities for Accreted Fee Collected from Customer | $ 100,000 | 100,000 | |
Amount of Federal Reserve Requirement | 9,100,000 | $ 8,400,000 | |
Interest Rate Swap [Member] | |||
Note 14 - Commitments and Off-balance Sheet Risk (Details) [Line Items] | |||
Derivative, Notional Amount | 14,700,000 | ||
Derivative, Fair Value, Net | $ (2,300,000) | ||
Minimum [Member] | |||
Note 14 - Commitments and Off-balance Sheet Risk (Details) [Line Items] | |||
Amortization Period for Term Debt Secured by Real Estate | 10 years | ||
Interest Rates On Loans Secured by Non-real Estate Collateral | 4.00% | ||
Term Debt Secured by Non-real Estate Collateral, Maturity Period | 3 years | ||
Fees Accreted Into Income During Interest Rate Swap Agreements, Term | 4 years | ||
Maximum [Member] | |||
Note 14 - Commitments and Off-balance Sheet Risk (Details) [Line Items] | |||
Amortization Period for Term Debt Secured by Real Estate | 20 years | ||
Interest Rates On Loans Secured by Non-real Estate Collateral | 7.50% | ||
Term Debt Secured by Non-real Estate Collateral, Maturity Period | 7 years | ||
Fees Accreted Into Income During Interest Rate Swap Agreements, Term | 15 years |
Note 14 - Commitments and Of111
Note 14 - Commitments and Off-balance Sheet Risk (Details) - Exposure to Credit Losses - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Note 14 - Commitments and Off-balance Sheet Risk (Details) - Exposure to Credit Losses [Line Items] | ||
Contractual amounts of financial instruments with off-balance sheet risk | $ 821,738,000 | $ 781,748,000 |
Loan Origination Commitments [Member] | ||
Note 14 - Commitments and Off-balance Sheet Risk (Details) - Exposure to Credit Losses [Line Items] | ||
Contractual amounts of financial instruments with off-balance sheet risk | 178,034,000 | 110,126,000 |
Standby Letters of Credit [Member] | ||
Note 14 - Commitments and Off-balance Sheet Risk (Details) - Exposure to Credit Losses [Line Items] | ||
Contractual amounts of financial instruments with off-balance sheet risk | 34,946,000 | 35,461,000 |
Commercial Portfolio Segment [Member] | Unused lines of Credit [Member] | ||
Note 14 - Commitments and Off-balance Sheet Risk (Details) - Exposure to Credit Losses [Line Items] | ||
Contractual amounts of financial instruments with off-balance sheet risk | 522,658,000 | 554,856,000 |
1-4 Family Mortgages [Member] | Unused lines of Credit [Member] | ||
Note 14 - Commitments and Off-balance Sheet Risk (Details) - Exposure to Credit Losses [Line Items] | ||
Contractual amounts of financial instruments with off-balance sheet risk | 61,905,000 | 60,983,000 |
Consumer Portfolio Segment [Member] | Unused lines of Credit [Member] | ||
Note 14 - Commitments and Off-balance Sheet Risk (Details) - Exposure to Credit Losses [Line Items] | ||
Contractual amounts of financial instruments with off-balance sheet risk | 15,612,000 | 11,649,000 |
Consumer Other Financing Receivable 1 [Member] | Unused lines of Credit [Member] | ||
Note 14 - Commitments and Off-balance Sheet Risk (Details) - Exposure to Credit Losses [Line Items] | ||
Contractual amounts of financial instruments with off-balance sheet risk | $ 8,583,000 | $ 8,673,000 |
Note 14 - Commitments and Of112
Note 14 - Commitments and Off-balance Sheet Risk (Details) - Instruments Carried at Fair Values - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Standby letters of credit | $ 821,738,000 | $ 781,748,000 |
Standby Letters of Credit [Member] | ||
Fair Value, Off-balance Sheet Risks, Disclosure Information [Line Items] | ||
Standby letters of credit | 34,946,000 | 35,461,000 |
Standby letters of credit | $ 182,000 | $ 150,000 |
Note 15 - Benefit Plans (Detail
Note 15 - Benefit Plans (Details) - USD ($) $ in Millions | Jan. 01, 2014 | Jan. 01, 2013 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 |
Note 15 - Benefit Plans (Details) [Line Items] | |||||
Defined Contribution Plan, Employer Matching Contribution, Percent of Employees' Gross Pay | 4.25% | 4.00% | |||
Defined Contribution Plan, Cost Recognized | $ 1.2 | $ 0.9 | $ 0.5 | ||
Deferred Compensation Liability, Current and Noncurrent | $ 3.9 | $ 3.7 | |||
Stock Issued During Period, Shares, Employee Stock Purchase Plans (in Shares) | 2,058 | 1,150 | |||
Stock Purchase Plan [Member] | |||||
Note 15 - Benefit Plans (Details) [Line Items] | |||||
Common Stock, Capital Shares Reserved for Future Issuance (in Shares) | 250,000 | ||||
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Available for Grant (in Shares) | 246,800 | ||||
Maximum [Member] | |||||
Note 15 - Benefit Plans (Details) [Line Items] | |||||
Interest Expense, Deferred Compensation Plan | $ 0.1 | $ 0.1 | $ 0.1 |
Note 16 - Hedging Activities (D
Note 16 - Hedging Activities (Details) - USD ($) | 1 Months Ended | |||||
Jan. 31, 2016 | Feb. 29, 2012 | Jan. 26, 2016 | Jan. 25, 2016 | Dec. 31, 2015 | Dec. 31, 2014 | |
Note 16 - Hedging Activities (Details) [Line Items] | ||||||
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust | $ 32,000,000 | $ 55,154,000 | $ 54,472,000 | |||
Fair Value of Interest Rate Swap Agreement Liability | $ 300,000 | $ 300,000 | ||||
Junior Subordinated Debt [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||
Note 16 - Hedging Activities (Details) [Line Items] | ||||||
Debt Instrument, Basis Spread on Variable Rate | 2.18% | |||||
Derivative, Notional Amount | $ 32,000,000 | |||||
Junior Subordinated Debt [Member] | Subsequent Event [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||||||
Note 16 - Hedging Activities (Details) [Line Items] | ||||||
Derivative, Notional Amount | $ 21,000,000 | $ 32,000,000 | ||||
Debt Instrument, Repurchased Face Amount | 11,000,000 | |||||
Interest Expense, Debt | $ 154,000 | |||||
Debt Instrument, Repurchase Amount | $ 11,000,000 |
Note 17 - Fair Values of Fin115
Note 17 - Fair Values of Financial Instruments (Details) - Fair Value Hierarchy of Financial Instruments - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 | |
Financial assets | |||
Securities available for sale | $ 346,992,000 | $ 432,912,000 | |
Federal Home Loan Bank stock | [1] | 7,567,000 | 13,699,000 |
Federal Home Loan Bank stock | [1] | 7,567,000 | 13,699,000 |
Bank owned life insurance | 58,971,000 | 57,861,000 | |
Financial liabilities | |||
Deposits | 2,275,382,000 | 2,276,915,000 | |
Securities sold under agreements to repurchase | 154,771,000 | 167,569,000 | |
Accrued interest payable | 16,445,000 | 12,263,000 | |
Interest Rate Swap [Member] | |||
Financial liabilities | |||
Interest rate swap | [2] | 253,000 | 253,000 |
Interest rate swap | [2] | 253,000 | 253,000 |
Fair Value, Inputs, Level 1 [Member] | |||
Financial assets | |||
Cash | 12,496,000 | 13,261,000 | |
Cash | 12,496,000 | 13,261,000 | |
Securities available for sale | 0 | ||
Fair Value, Inputs, Level 2 [Member] | |||
Financial assets | |||
Cash equivalents | 77,395,000 | 159,477,000 | |
Cash equivalents | 77,395,000 | 159,477,000 | |
Bank owned life insurance | 58,971,000 | 57,861,000 | |
Bank owned life insurance | 58,971,000 | 57,861,000 | |
Accrued interest receivable | 7,836,000 | 8,033,000 | |
Accrued interest receivable | 7,836,000 | 8,033,000 | |
Financial liabilities | |||
Deposits | 2,275,382,000 | 2,276,915,000 | |
Deposits | 2,208,724,000 | 2,254,749,000 | |
Securities sold under agreements to repurchase | 154,771,000 | 167,569,000 | |
Securities sold under agreements to repurchase | 154,771,000 | 167,569,000 | |
Federal Home Loan Bank advances | 68,000,000 | 54,022,000 | |
Federal Home Loan Bank advances | 68,858,000 | 54,720,000 | |
Subordinated debentures | 55,154,000 | 54,472,000 | |
Subordinated debentures | 55,760,000 | 54,508,000 | |
Accrued interest payable | 1,479,000 | 1,942,000 | |
Accrued interest payable | 1,479,000 | 1,942,000 | |
Fair Value, Inputs, Level 3 [Member] | |||
Financial assets | |||
Loans, net | 2,262,046,000 | 2,069,236,000 | |
Loans, net | $ 2,261,026,000 | $ 2,064,140,000 | |
[1] | It is not practical to determine the fair value of FHLBI stock due to transferability restrictions. | ||
[2] | See Note 18 for a description of the fair value hierarchy as well as a disclosure of levels for classes of financial assets and liabilities. |
Note 18 - Fair Values Measur116
Note 18 - Fair Values Measurements (Details) - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Note 18 - Fair Values Measurements (Details) [Line Items] | ||
Available-for-sale Securities | $ 346,992,000 | $ 432,912,000 |
Loans Receivable Held-for-sale, Net, Not Part of Disposal Group, Mortgage | 1,316,000 | 1,574,000 |
Available-for-sale Securities [Member] | ||
Note 18 - Fair Values Measurements (Details) [Line Items] | ||
Valuation Allowances and Reserves, Balance | 0 | $ 0 |
Fair Value, Inputs, Level 1 [Member] | ||
Note 18 - Fair Values Measurements (Details) [Line Items] | ||
Available-for-sale Securities | $ 0 |
Note 18 - Fair Values Measur117
Note 18 - Fair Values Measurements (Details) - Assets and Liabilities Measured at Fair Value on a Recurring Basis - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 |
Available for sale securities | ||
Available for sale securities | $ 346,992,000 | $ 432,912,000 |
Interest Rate Swap [Member] | Fair Value, Measurements, Recurring [Member] | ||
Derivatives | ||
Derivative | (253,000) | (253,000) |
Assets and liabilities measured at fair value on recurring basis | 346,739,000 | 432,659,000 |
US Government Agencies Debt Securities [Member] | ||
Available for sale securities | ||
Available for sale securities | 147,040,000 | 193,468,000 |
US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities | ||
Available for sale securities | 147,040,000 | 193,468,000 |
Collateralized Mortgage Backed Securities [Member] | ||
Available for sale securities | ||
Available for sale securities | 67,074,000 | 93,561,000 |
Collateralized Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities | ||
Available for sale securities | 67,074,000 | 93,561,000 |
Municipal General Obligation Bonds [Member] | ||
Available for sale securities | ||
Available for sale securities | 122,023,000 | 133,082,000 |
Municipal General Obligation Bonds [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities | ||
Available for sale securities | 122,023,000 | 133,082,000 |
Municipal Revenue Bonds [Member] | ||
Available for sale securities | ||
Available for sale securities | 8,914,000 | 10,873,000 |
Municipal Revenue Bonds [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities | ||
Available for sale securities | 8,914,000 | 10,873,000 |
Other Debt Obligations [Member] | ||
Available for sale securities | ||
Available for sale securities | 1,941,000 | 1,928,000 |
Other Debt Obligations [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities | ||
Available for sale securities | 1,941,000 | |
Mutual Funds [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities | ||
Available for sale securities | 1,928,000 | |
Fair Value, Inputs, Level 1 [Member] | ||
Available for sale securities | ||
Available for sale securities | 0 | |
Fair Value, Inputs, Level 1 [Member] | Interest Rate Swap [Member] | Fair Value, Measurements, Recurring [Member] | ||
Derivatives | ||
Derivative | 0 | 0 |
Assets and liabilities measured at fair value on recurring basis | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities | ||
Available for sale securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities | ||
Available for sale securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Municipal General Obligation Bonds [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities | ||
Available for sale securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Municipal Revenue Bonds [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities | ||
Available for sale securities | 0 | 0 |
Fair Value, Inputs, Level 1 [Member] | Other Debt Obligations [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities | ||
Available for sale securities | 0 | |
Fair Value, Inputs, Level 1 [Member] | Mutual Funds [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities | ||
Available for sale securities | 0 | |
Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member] | Fair Value, Measurements, Recurring [Member] | ||
Derivatives | ||
Derivative | (253,000) | (253,000) |
Assets and liabilities measured at fair value on recurring basis | 338,320,000 | 422,378,000 |
Fair Value, Inputs, Level 2 [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities | ||
Available for sale securities | 147,040,000 | 193,468,000 |
Fair Value, Inputs, Level 2 [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities | ||
Available for sale securities | 67,074,000 | 93,561,000 |
Fair Value, Inputs, Level 2 [Member] | Municipal General Obligation Bonds [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities | ||
Available for sale securities | 113,604,000 | 122,801,000 |
Fair Value, Inputs, Level 2 [Member] | Municipal Revenue Bonds [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities | ||
Available for sale securities | 8,914,000 | 10,873,000 |
Fair Value, Inputs, Level 2 [Member] | Other Debt Obligations [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities | ||
Available for sale securities | 1,941,000 | |
Fair Value, Inputs, Level 2 [Member] | Mutual Funds [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities | ||
Available for sale securities | 1,928,000 | |
Fair Value, Inputs, Level 3 [Member] | Interest Rate Swap [Member] | Fair Value, Measurements, Recurring [Member] | ||
Derivatives | ||
Derivative | 0 | 0 |
Assets and liabilities measured at fair value on recurring basis | 8,419,000 | 10,281,000 |
Fair Value, Inputs, Level 3 [Member] | US Government Agencies Debt Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities | ||
Available for sale securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Collateralized Mortgage Backed Securities [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities | ||
Available for sale securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Municipal General Obligation Bonds [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities | ||
Available for sale securities | 8,419,000 | 10,281,000 |
Fair Value, Inputs, Level 3 [Member] | Municipal Revenue Bonds [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities | ||
Available for sale securities | 0 | 0 |
Fair Value, Inputs, Level 3 [Member] | Other Debt Obligations [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities | ||
Available for sale securities | $ 0 | |
Fair Value, Inputs, Level 3 [Member] | Mutual Funds [Member] | Fair Value, Measurements, Recurring [Member] | ||
Available for sale securities | ||
Available for sale securities | $ 0 |
Note 18 - Fair Values Measur118
Note 18 - Fair Values Measurements (Details) - Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis - Fair Value, Measurements, Nonrecurring [Member] - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 | |
Note 18 - Fair Values Measurements (Details) - Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis [Line Items] | |||
Impaired loans | [1] | $ 8,970,000 | $ 17,097,000 |
Foreclosed assets | [1] | 1,293,000 | 1,995,000 |
Assets and liabilities measured at fair value on a nonrecurring basis | 10,263,000 | 19,092,000 | |
Fair Value, Inputs, Level 1 [Member] | |||
Note 18 - Fair Values Measurements (Details) - Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis [Line Items] | |||
Impaired loans | [1] | 0 | 0 |
Foreclosed assets | [1] | 0 | 0 |
Assets and liabilities measured at fair value on a nonrecurring basis | 0 | 0 | |
Fair Value, Inputs, Level 2 [Member] | |||
Note 18 - Fair Values Measurements (Details) - Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis [Line Items] | |||
Impaired loans | [1] | 0 | 0 |
Foreclosed assets | [1] | 0 | 0 |
Assets and liabilities measured at fair value on a nonrecurring basis | 0 | 0 | |
Fair Value, Inputs, Level 3 [Member] | |||
Note 18 - Fair Values Measurements (Details) - Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis [Line Items] | |||
Impaired loans | [1] | 8,970,000 | 17,097,000 |
Foreclosed assets | [1] | 1,293,000 | 1,995,000 |
Assets and liabilities measured at fair value on a nonrecurring basis | $ 10,263,000 | $ 19,092,000 | |
[1] | Represents carrying value and related write-downs for which adjustments are based on the estimated value of the property or other assets. |
Note 19 - Earnings Per Share (D
Note 19 - Earnings Per Share (Details) - shares | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Earnings Per Share [Abstract] | |||
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount | 40,000 | 168,000 | 55,000 |
Note 19 - Earnings Per Share120
Note 19 - Earnings Per Share (Details) - Earnings Per Share - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Basic | |||||||||||
Net income attributable to common shares (in Dollars) | $ 6,480,000 | $ 7,336,000 | $ 6,558,000 | $ 6,646,000 | $ 6,293,000 | $ 5,948,000 | $ 1,510,000 | $ 3,580,000 | $ 27,020,000 | $ 17,331,000 | $ 17,033,000 |
Weighted average common shares outstanding for basic earnings per common share | 16,609,263 | 13,510,991 | 8,710,677 | ||||||||
Basic earnings per common share (in Dollars per share) | $ 0.40 | $ 0.45 | $ 0.39 | $ 0.39 | $ 0.37 | $ 0.35 | $ 0.13 | $ 0.41 | $ 1.63 | $ 1.28 | $ 1.96 |
Add: Dilutive effects of share-based awards | 32,877 | 30,913 | 14,031 | ||||||||
Average shares and dilutive potential common shares | 16,642,140 | 13,541,904 | 8,724,708 | ||||||||
Diluted earnings per common share (in Dollars per share) | $ 0.40 | $ 0.45 | $ 0.39 | $ 0.39 | $ 0.37 | $ 0.35 | $ 0.13 | $ 0.41 | $ 1.62 | $ 1.28 | $ 1.95 |
Weighted average common shares outstanding | 16,609,263 | 13,510,991 | 8,710,677 |
Note 20 - Subordinated Deben121
Note 20 - Subordinated Debentures (Details) | Jan. 26, 2016USD ($) | Jun. 01, 2014USD ($) | Jan. 25, 2016USD ($) | Dec. 31, 2015USD ($) | Dec. 31, 2014USD ($) | Feb. 29, 2012USD ($) |
Note 20 - Subordinated Debentures (Details) [Line Items] | ||||||
Number Of Business Trusts | 5 | |||||
Business Combination, Debt Assumed, Number of Trusts | 4 | |||||
Fair Value Discount of Subordinated Debentures Related to Assumed Business Trusts at Time af Merger | $ 15,000,000 | |||||
Amortization of Fair Value Discount Related to Subordinated Debentures of Assumed Business Trusts | $ 700,000 | |||||
Amortization Period of Fair Value Discount Related to Subordinated Debentures of Assumed Business Trusts | 21 years 6 months | |||||
Preferred Securities of Subsidiary Trust | $ 53,100,000 | $ 52,400,000 | ||||
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust | 55,154,000 | $ 54,472,000 | $ 32,000,000 | |||
Mercantile Bank Capital Trust I [Member] | ||||||
Note 20 - Subordinated Debentures (Details) [Line Items] | ||||||
Preferred Securities of Subsidiary Trust | $ 32,000,000,000 | |||||
Subsequent Event [Member] | Mercantile Bank Capital Trust I [Member] | ||||||
Note 20 - Subordinated Debentures (Details) [Line Items] | ||||||
Preferred Securities of Subsidiary Trust | $ 32,000,000 | $ 32,000,000 | ||||
Payments for Repurchase of Trust Preferred Securities | 11,000,000 | |||||
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust | 21,000,000 | |||||
Subsequent Event [Member] | Mercantile Bank Capital Trust I [Member] | Fund [Member] | ||||||
Note 20 - Subordinated Debentures (Details) [Line Items] | ||||||
Preferred Securities of Subsidiary Trust | $ 11,000,000 | $ 11,000,000 |
Note 20 - Subordinated Deben122
Note 20 - Subordinated Debentures (Details) - Business Trusts - USD ($) $ in Thousands | 12 Months Ended | |
Dec. 31, 2015 | Dec. 31, 2014 | |
Subordinated Borrowing [Line Items] | ||
Preferred securities outstanding | $ 53,100 | $ 52,400 |
Mercantile Bank Capital Trust I [Member] | ||
Subordinated Borrowing [Line Items] | ||
Preferred securities outstanding | $ 32,000,000 | |
Mercantile Bank Capital Trust I [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||
Subordinated Borrowing [Line Items] | ||
Interest Rate Margin | 2.18% | |
Firstbank Capital Trust I [Member] | ||
Subordinated Borrowing [Line Items] | ||
Preferred securities outstanding | $ 10,000,000 | |
Firstbank Capital Trust I [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||
Subordinated Borrowing [Line Items] | ||
Interest Rate Margin | 1.99% | |
Firstbank Capital Trust II [Member] | ||
Subordinated Borrowing [Line Items] | ||
Preferred securities outstanding | $ 10,000,000 | |
Firstbank Capital Trust II [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||
Subordinated Borrowing [Line Items] | ||
Interest Rate Margin | 1.27% | |
Firstbank Capital Trust III [Member] | ||
Subordinated Borrowing [Line Items] | ||
Preferred securities outstanding | $ 7,500,000 | |
Firstbank Capital Trust III [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||
Subordinated Borrowing [Line Items] | ||
Interest Rate Margin | 1.35% | |
Firstbank Capital Trust IV [Member] | ||
Subordinated Borrowing [Line Items] | ||
Preferred securities outstanding | $ 7,500,000 | |
Firstbank Capital Trust IV [Member] | London Interbank Offered Rate (LIBOR) [Member] | ||
Subordinated Borrowing [Line Items] | ||
Interest Rate Margin | 1.35% |
Note 21 - Regulatory Matters (D
Note 21 - Regulatory Matters (Details) - USD ($) | Mar. 23, 2016 | Jan. 26, 2016 | Jan. 14, 2016 | Dec. 23, 2015 | Oct. 15, 2015 | Sep. 23, 2015 | Jul. 16, 2015 | Jun. 24, 2015 | Apr. 16, 2015 | Mar. 25, 2015 | Jan. 15, 2015 | Dec. 31, 2015 | Jan. 25, 2016 | Jan. 30, 2015 | Dec. 31, 2014 | Feb. 29, 2012 | Dec. 31, 2009 |
Note 21 - Regulatory Matters (Details) [Line Items] | |||||||||||||||||
Statutory Accounting Practices, Statutory Amount Available for Dividend Payments without Regulatory Approval | $ 66,300,000 | ||||||||||||||||
Common Stock, Dividends, Per Share, Cash Paid (in Dollars per share) | $ 0.15 | $ 0.15 | $ 0.14 | $ 0.14 | |||||||||||||
Common Stock, Dividends, Per Share, Declared (in Dollars per share) | $ 0.15 | $ 0.15 | $ 0.14 | $ 0.14 | |||||||||||||
Stock Repurchase Program, Authorized Amount | $ 20,000,000 | ||||||||||||||||
Trust Preferred Securities Included in Tier One Capital | $ 53,100,000 | $ 52,400,000 | |||||||||||||||
Maximum Restricted Core Element Allowed in Tier One Capital, Percent | 25.00% | ||||||||||||||||
Maximum Level of Consolidated Aggregate Assets Allowing for Inclusion of Trust Preferred Securities in Tier One Capital | $ 15,000,000,000 | ||||||||||||||||
Preferred Securities of Subsidiary Trust | $ 53,100,000 | 52,400,000 | |||||||||||||||
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust | 55,154,000 | $ 54,472,000 | $ 32,000,000 | ||||||||||||||
Mercantile Bank Capital Trust I [Member] | |||||||||||||||||
Note 21 - Regulatory Matters (Details) [Line Items] | |||||||||||||||||
Preferred Securities of Subsidiary Trust | $ 32,000,000,000 | ||||||||||||||||
Scenario, Forecast [Member] | |||||||||||||||||
Note 21 - Regulatory Matters (Details) [Line Items] | |||||||||||||||||
Common Stock, Dividends, Per Share, Cash Paid (in Dollars per share) | $ 0.16 | ||||||||||||||||
Subsequent Event [Member] | |||||||||||||||||
Note 21 - Regulatory Matters (Details) [Line Items] | |||||||||||||||||
Common Stock, Dividends, Per Share, Declared (in Dollars per share) | $ 0.16 | ||||||||||||||||
Increase (Decrease) in Tangible Equity to Tangible Assets Ratio, Basis Point | 0.09% | ||||||||||||||||
Increase (Decrease) in Tangible Book Value Per Share (in Dollars per share) | $ 0.11 | ||||||||||||||||
Increase (Decrease) in Tier One Capital and Total Risk-based Capital Ratio, Basis Point | (0.35%) | ||||||||||||||||
Dividends, Cash | $ 9,100,000 | ||||||||||||||||
Increase (Decrease) in Capital Ratio, Basis Point | (0.35%) | ||||||||||||||||
Subsequent Event [Member] | Mercantile Bank Capital Trust I [Member] | |||||||||||||||||
Note 21 - Regulatory Matters (Details) [Line Items] | |||||||||||||||||
Preferred Securities of Subsidiary Trust | $ 32,000,000 | $ 32,000,000 | |||||||||||||||
Payments for Repurchase of Trust Preferred Securities | 11,000,000 | ||||||||||||||||
Junior Subordinated Debenture Owed to Unconsolidated Subsidiary Trust | $ 21,000,000 | ||||||||||||||||
Percentage of Trust Preferred Securities Face Amount Paid | 73.00% | ||||||||||||||||
Discount Rate of Trust Preferred Securities | 27.00% | ||||||||||||||||
Gain (Loss) on Repurchase of Trust Preferred Securities | $ 1,800,000 | ||||||||||||||||
Gain (Loss) on Repurchase of Trust Preferred Securities, Per Diluted Share (in Dollars per share) | $ 0.11 | ||||||||||||||||
Subsequent Event [Member] | Mercantile Bank Capital Trust I [Member] | Fund [Member] | |||||||||||||||||
Note 21 - Regulatory Matters (Details) [Line Items] | |||||||||||||||||
Preferred Securities of Subsidiary Trust | $ 11,000,000 | $ 11,000,000 | |||||||||||||||
Repurchased Stock [Member] | |||||||||||||||||
Note 21 - Regulatory Matters (Details) [Line Items] | |||||||||||||||||
Stock Repurchased During Period, Shares (in Shares) | 788,541 | ||||||||||||||||
Stock Repurchased During Period, Value | $ 15,800,000 |
Note 21 - Regulatory Matters124
Note 21 - Regulatory Matters (Details) - Actual Capital Levels and Minimum Levels - USD ($) $ in Thousands | Dec. 31, 2015 | Dec. 31, 2014 |
Consolidated Entities [Member] | ||
Total capital (to risk weighted assets) | ||
Total capital (to risk weighted assets), actual amount | $ 345,539 | $ 334,793 |
Total capital (to risk weighted assets), actual ratio | 13.50% | 14.40% |
Total capital (to risk weighted assets), minimum required for capital adequacy purposes amount | $ 205,602 | $ 185,553 |
Total capital (to risk weighted assets), minimum required for capital adequacy purposes ratio | 8.00% | 8.00% |
Total capital (to risk weighted assets), minimum required to be well capitalized under prompt corrective action regulations amount | ||
Total capital (to risk weighted assets), minimum required to be well capitalized under prompt corrective action regulations, ratio | ||
Tier 1 capital (to risk weighted assets) | ||
Tier 1 capital (to risk weighted assets), actual amount | $ 329,858 | $ 314,752 |
Tier 1 capital (to risk weighted assets), actual ratio | 12.80% | 13.60% |
Tier 1 capital (to risk weighted assets), minimum required for capital adequacy purposes amount | $ 102,801 | $ 92,777 |
Tier 1 capital (to risk weighted assets), minimum required for capital adequacy purposes ratio | 4.00% | 4.00% |
Tier 1 capital (to risk weighted assets), minimum required to be well capitalized under prompt corrective action regulations amount | ||
Tier 1 capital (to risk weighted assets), minimum required to be well capitalized under prompt corrective action regulations, ratio | ||
Common equity (to risk weighted assets) | ||
Common equity tier 1 (to risk weighted assets), actual amount | $ 280,171 | |
Common equity tier 1 (to risk weighted assets), actual ratio | 10.90% | |
Common equity tier 1 (to risk weighted assets), minimum required for capital adequacy purposes amount | $ 115,804 | |
Common equity tier 1 (to risk weighted assets), minimum required for capital adequacy purposes ratio | 4.50% | |
Common equity tier 1 (to risk weighted assets), minimum required to be well capitalized under prompt corrective action regulations amount | ||
Common equity tier 1 (to risk weighted assets), minimum required to be well capitalized under prompt corrective action regulations, ratio | ||
Tier 1 capital (to average assets) | ||
Tier 1 capital (to average assets), actual amount | $ 329,858 | $ 314,752 |
Tier 1 capital (to average assets), actual ratio | 11.60% | 11.20% |
Tier 1 capital (to average assets), minimum required for capital adequacy purposes amount | $ 114,138 | $ 112,949 |
Tier 1 capital (to risk average assets), minimum required for capital adequacy purposes ratio | 4.00% | 4.00% |
Tier 1 capital (to risk average assets), minimum required to be well capitalized under prompt corrective action regulations amount | ||
Tier 1 capital (to risk average assets), minimum required to be well capitalized under prompt corrective action regulations, ratio | ||
Bank [Member] | ||
Total capital (to risk weighted assets) | ||
Total capital (to risk weighted assets), actual amount | $ 347,433 | $ 332,749 |
Total capital (to risk weighted assets), actual ratio | 13.50% | 14.40% |
Total capital (to risk weighted assets), minimum required for capital adequacy purposes amount | $ 205,624 | $ 185,309 |
Total capital (to risk weighted assets), minimum required for capital adequacy purposes ratio | 8.00% | 8.00% |
Total capital (to risk weighted assets), minimum required to be well capitalized under prompt corrective action regulations amount | $ 257,030 | $ 231,636 |
Total capital (to risk weighted assets), minimum required to be well capitalized under prompt corrective action regulations, ratio | 10.00% | 10.00% |
Tier 1 capital (to risk weighted assets) | ||
Tier 1 capital (to risk weighted assets), actual amount | $ 331,752 | $ 312,708 |
Tier 1 capital (to risk weighted assets), actual ratio | 12.90% | 13.50% |
Tier 1 capital (to risk weighted assets), minimum required for capital adequacy purposes amount | $ 102,812 | $ 92,655 |
Tier 1 capital (to risk weighted assets), minimum required for capital adequacy purposes ratio | 4.00% | 4.00% |
Tier 1 capital (to risk weighted assets), minimum required to be well capitalized under prompt corrective action regulations amount | $ 154,218 | $ 138,982 |
Tier 1 capital (to risk weighted assets), minimum required to be well capitalized under prompt corrective action regulations, ratio | 6.00% | 6.00% |
Common equity (to risk weighted assets) | ||
Common equity tier 1 (to risk weighted assets), actual amount | $ 331,752 | |
Common equity tier 1 (to risk weighted assets), actual ratio | 12.90% | |
Common equity tier 1 (to risk weighted assets), minimum required for capital adequacy purposes amount | $ 115,664 | |
Common equity tier 1 (to risk weighted assets), minimum required for capital adequacy purposes ratio | 4.50% | |
Common equity tier 1 (to risk weighted assets), minimum required to be well capitalized under prompt corrective action regulations amount | $ 167,070 | |
Common equity tier 1 (to risk weighted assets), minimum required to be well capitalized under prompt corrective action regulations, ratio | 6.50% | |
Tier 1 capital (to average assets) | ||
Tier 1 capital (to average assets), actual amount | $ 331,752 | $ 312,708 |
Tier 1 capital (to average assets), actual ratio | 11.60% | 11.10% |
Tier 1 capital (to average assets), minimum required for capital adequacy purposes amount | $ 114,280 | $ 112,856 |
Tier 1 capital (to risk average assets), minimum required for capital adequacy purposes ratio | 4.00% | 4.00% |
Tier 1 capital (to risk average assets), minimum required to be well capitalized under prompt corrective action regulations amount | $ 142,850 | $ 141,070 |
Tier 1 capital (to risk average assets), minimum required to be well capitalized under prompt corrective action regulations, ratio | 5.00% | 5.00% |
Note 22 - Accumulated Other 125
Note 22 - Accumulated Other Comprehensive Income (Loss) (Details) - USD ($) $ in Thousands | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Note 22 - Accumulated Other Comprehensive Income (Loss) (Details) [Line Items] | |||
Accumulated Other Comprehensive Income (Loss), Available-for-sale Securities Adjustment, Net of Tax | $ 1,400 | $ 200 | $ 5,400 |
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | 0 | 7 | 551 |
Interest Rate Swap [Member] | |||
Note 22 - Accumulated Other Comprehensive Income (Loss) (Details) [Line Items] | |||
Other Comprehensive Income (Loss), Unrealized Gain (Loss) on Derivatives Arising During Period, Net of Tax | $ (200) | $ (200) | $ (200) |
Note 23 - Quarterly Financia126
Note 23 - Quarterly Financial Data (Unaudited) (Details) - Quarterly Financial Data (Unaudited) - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
2,015 | |||||||||||
Interest income | $ 28,575,000 | $ 28,501,000 | $ 27,663,000 | $ 27,589,000 | $ 28,147,000 | $ 28,900,000 | $ 18,483,000 | $ 13,588,000 | $ 112,328,000 | $ 89,118,000 | $ 58,242,000 |
Net interest income | 25,659,000 | 25,625,000 | 25,041,000 | 24,849,000 | 25,173,000 | 25,989,000 | 15,552,000 | 11,064,000 | 101,174,000 | 77,778,000 | 47,456,000 |
Net income | $ 6,480,000 | $ 7,336,000 | $ 6,558,000 | $ 6,646,000 | $ 6,293,000 | $ 5,948,000 | $ 1,510,000 | $ 3,580,000 | $ 27,020,000 | $ 17,331,000 | $ 17,033,000 |
Earnings per share, basic (in Dollars per share) | $ 0.40 | $ 0.45 | $ 0.39 | $ 0.39 | $ 0.37 | $ 0.35 | $ 0.13 | $ 0.41 | $ 1.63 | $ 1.28 | $ 1.96 |
Earnings per share, diluted (in Dollars per share) | $ 0.40 | $ 0.45 | $ 0.39 | $ 0.39 | $ 0.37 | $ 0.35 | $ 0.13 | $ 0.41 | $ 1.62 | $ 1.28 | $ 1.95 |
Note 24 - Mercantile Bank Co127
Note 24 - Mercantile Bank Corporation (Parent Company Only) Condensed Financial Statements (Details) - Condensed Balance Sheets - USD ($) | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | Dec. 31, 2012 | Feb. 29, 2012 |
ASSETS | |||||
Other assets | $ 29,123,000 | $ 33,024,000 | |||
Total assets | 2,903,556,000 | 2,893,379,000 | |||
LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||
Liabilities | 2,569,752,000 | 2,565,241,000 | |||
Subordinated debentures | 55,154,000 | 54,472,000 | $ 32,000,000 | ||
Shareholders’ equity | 333,804,000 | 328,138,000 | $ 153,325,000 | $ 146,590,000 | |
Total liabilities and shareholders’ equity | 2,903,556,000 | 2,893,379,000 | |||
Parent Company [Member] | |||||
ASSETS | |||||
Cash and cash equivalents | 4,940,000 | 1,441,000 | $ 2,506,000 | $ 473,000 | |
Investment in bank subsidiary | 368,248,000 | 361,355,000 | |||
Other assets | 20,940,000 | 20,948,000 | |||
Total assets | 394,128,000 | 383,744,000 | |||
LIABILITIES AND SHAREHOLDERS’ EQUITY | |||||
Liabilities | 5,170,000 | 1,134,000 | |||
Subordinated debentures | 55,154,000 | 54,472,000 | |||
Shareholders’ equity | 333,804,000 | 328,138,000 | |||
Total liabilities and shareholders’ equity | $ 394,128,000 | $ 383,744,000 |
Note 24 - Mercantile Bank Co128
Note 24 - Mercantile Bank Corporation (Parent Company Only) Condensed Financial Statements (Details) - Condensed Statements of Income - USD ($) | 3 Months Ended | 12 Months Ended | |||||||||
Dec. 31, 2015 | Sep. 30, 2015 | Jun. 30, 2015 | Mar. 31, 2015 | Dec. 31, 2014 | Sep. 30, 2014 | Jun. 30, 2014 | Mar. 31, 2014 | Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Income | |||||||||||
Interest and dividends from subsidiaries | $ 28,575,000 | $ 28,501,000 | $ 27,663,000 | $ 27,589,000 | $ 28,147,000 | $ 28,900,000 | $ 18,483,000 | $ 13,588,000 | $ 112,328,000 | $ 89,118,000 | $ 58,242,000 |
Expenses | |||||||||||
Interest expense | 11,154,000 | 11,340,000 | 10,786,000 | ||||||||
Income before income tax benefit and equity in undistributed net income of subsidiary | 38,831,000 | 25,196,000 | 25,125,000 | ||||||||
Federal income tax benefit | 11,811,000 | 7,865,000 | 8,092,000 | ||||||||
Net income | 27,020,000 | 17,331,000 | 17,033,000 | ||||||||
Comprehensive income | 28,267,000 | 22,920,000 | 9,810,000 | ||||||||
Parent Company [Member] | |||||||||||
Income | |||||||||||
Interest and dividends from subsidiaries | 24,166,000 | 12,139,000 | 5,516,000 | ||||||||
Total income | 24,166,000 | 12,139,000 | 5,516,000 | ||||||||
Expenses | |||||||||||
Interest expense | 2,569,000 | 2,145,000 | 1,213,000 | ||||||||
Other operating expenses | 2,276,000 | 3,552,000 | 2,773,000 | ||||||||
Total expenses | 4,845,000 | 5,697,000 | 3,986,000 | ||||||||
Income before income tax benefit and equity in undistributed net income of subsidiary | 19,321,000 | 6,442,000 | 1,530,000 | ||||||||
Federal income tax benefit | (2,051,000) | (1,758,000) | (1,042,000) | ||||||||
Equity in undistributed net income of subsidiary | 5,648,000 | 9,131,000 | 14,461,000 | ||||||||
Net income | 27,020,000 | 17,331,000 | 17,033,000 | ||||||||
Comprehensive income | $ 28,267,000 | $ 22,920,000 | $ 9,810,000 |
Note 24 - Mercantile Bank Co129
Note 24 - Mercantile Bank Corporation (Parent Company Only) Condensed Financial Statements (Details) - Condensed Statement of Cash Flows - USD ($) | 12 Months Ended | ||
Dec. 31, 2015 | Dec. 31, 2014 | Dec. 31, 2013 | |
Cash flows from operating activities | |||
Net income | $ 27,020,000 | $ 17,331,000 | $ 17,033,000 |
Adjustments to reconcile net income to net cash from operating activities: | |||
Stock-based compensation expense | 684,000 | 714,000 | 473,000 |
Stock grants to directors for retainer fees | 403,000 | 155,000 | 0 |
Change in other assets | (4,815,000) | 1,795,000 | 8,465,000 |
Cash flows from financing activities | |||
Stock option exercises, net of cashless exercises | 891,000 | 282,000 | 289,000 |
Employee stock purchase plan | 44,000 | 23,000 | 19,000 |
Dividend reinvestment plan | 655,000 | 209,000 | 33,000 |
Repurchase of common shares | (15,762,000) | 0 | 0 |
Cash dividends on common stock | (9,516,000) | (24,464,000) | (3,889,000) |
Net change in cash and cash equivalents | (82,847,000) | 25,773,000 | 10,962,000 |
Parent Company [Member] | |||
Cash flows from operating activities | |||
Net income | 27,020,000 | 17,331,000 | 17,033,000 |
Adjustments to reconcile net income to net cash from operating activities: | |||
Equity in undistributed net income of subsidiary | (5,648,000) | (9,131,000) | (14,461,000) |
Stock-based compensation expense | 684,000 | 714,000 | 473,000 |
Stock grants to directors for retainer fees | 403,000 | 155,000 | 0 |
Change in other assets | 11,000 | (8,163,000) | 3,244,000 |
Change in other liabilities | 4,717,000 | 21,979,000 | (708,000) |
Net cash from operating activities | 27,187,000 | 22,885,000 | 5,581,000 |
Cash flows from investing activities | |||
Net capital investment into subsidiaries | 0 | 0 | 0 |
Net cash for investing activities | 0 | 0 | 0 |
Cash flows from financing activities | |||
Stock option exercises, net of cashless exercises | 891,000 | 282,000 | 289,000 |
Employee stock purchase plan | 44,000 | 23,000 | 19,000 |
Dividend reinvestment plan | 655,000 | 209,000 | 33,000 |
Repurchase of common shares | (15,762,000) | 0 | 0 |
Cash dividends on common stock | (9,516,000) | (24,464,000) | (3,889,000) |
Net cash for financing activities | (23,688,000) | (23,950,000) | (3,548,000) |
Net change in cash and cash equivalents | 3,499,000 | (1,065,000) | 2,033,000 |
Cash and cash equivalents at beginning of period | 1,441,000 | 2,506,000 | 473,000 |
Cash and cash equivalents at end of period | $ 4,940,000 | $ 1,441,000 | $ 2,506,000 |